NZD/JPY Short Term Outlook
NZD/JPY has retreated after making intraday high of 89.50. Overall trend is bearish phase as long as resistance 89.50 holds.
On the upside minor resistance is around 89.50 and any break could pave way for next target 90.20/91.
The pair’s minor support is around 88.40 (200 day 4 HMA) and break below will target 87.70/87.25.
Indicators (4 hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell NZD/JPY around 88.60, SL 89.50, Target 87.25.
On the upside minor resistance is around 89.50 and any break could pave way for next target 90.20/91.
The pair’s minor support is around 88.40 (200 day 4 HMA) and break below will target 87.70/87.25.
Indicators (4 hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell NZD/JPY around 88.60, SL 89.50, Target 87.25.