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Yen Resurgence Stalls the Kiwi: NZDJPY Tilts Bearish as Resistance Holds

 

 

 

NZDJPY pared most of its gains as yen gains momentum.  It reached an intraday high of 93.75 and is currently trading near 93.21.If the 94.40 resistance  level stays steady, the downward  trend seems to be going well.

 

Technicals

CMP -93.21

Trend

1- Hour chart

Value

 

 

55 EMA

93.68

CMP< value

Bearish

200- EMA

93.705

CMP <value

Bearish

365- EMA

93.48

CMP< value

Bearish

 Near-term resistance - 94.50/95/96. Near-term support- 93/92.70/91.80/91/90.50/89.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-129

ADX

Neutral

 

 It is good to sell on rallies around 93.48-50 with SL around 94.41 for a TP of 90.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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