NZD/JPY Short Term Outlook
NZD/JPY has broken short term support 90.75 (trend line joining 88.73 and 90) and declined till 89.80. Short term trend is weak as long as resistance 90.80 holds.
On the upside minor resistance is around 90.80 and any break above will take the pair to next targets 91.50/91.88.
The support is around 89.70 and break below will drag the pair further down till 89.20/88.70.
Indicators (1 Hour chart)
CCI (50) – Sell
CCI (14) - Sell
Ichimoku- Sell
Recommendation: Sell NZD/JPY around 90.25 SL 90.80, Target 88.80.
On the upside minor resistance is around 90.80 and any break above will take the pair to next targets 91.50/91.88.
The support is around 89.70 and break below will drag the pair further down till 89.20/88.70.
Indicators (1 Hour chart)
CCI (50) – Sell
CCI (14) - Sell
Ichimoku- Sell
Recommendation: Sell NZD/JPY around 90.25 SL 90.80, Target 88.80.