NZD/JPY Short term Outlook

NZD/JPY has slightly retreated after making a high of 91.80. It is facing short term support around 91.12 (23.6 % retracement of 89.06 and 91.80) and any break below will drag the pair further down till 90.60/89.90.

The pair’s minor resistance is around 91.88 and above which it can reach 93/93.69.

Indicators (1 Hour chart)

Woddies CCI (14) – Buy

CCI (50) – Sell

Ichimoku- Buy

We prefer to Buy NZD/JPY around 91.25 with stop around 90.60 for the targets 93/93.65.