NZD/JPY Short term Outlook
NZD/JPY took support near 90.15 (200 day 4HMA) and has started to recover from that level. So this confirms that NZD/JPY has formed temporary bottom around 90.13 and jump till 92.40/93 cannot be ruled out.
On the downside major support is around 90 and any break below will drag the pair till 89.05.
The minor resistance are 91.20/91.55/92.40.
Indicator (4 hour chart)
CCI (50) - Sell
Woodies CCI (14) – Buy
Ichimoku- Neutral
It is good to buy at dips around 90.70 for the target of 91.52/92.40 with stop around 90.
On the downside major support is around 90 and any break below will drag the pair till 89.05.
The minor resistance are 91.20/91.55/92.40.
Indicator (4 hour chart)
CCI (50) - Sell
Woodies CCI (14) – Buy
Ichimoku- Neutral
It is good to buy at dips around 90.70 for the target of 91.52/92.40 with stop around 90.
