NZD/JPY is struggling to break 200 HMA, targets 87.70
NZD/JPY has recovered till 90.09 and started retreating from that level. Intraday trend is weak as long resistance 89.50 holds.
The break of intraday resistance will take the pair to next target 90.10 level.
Short term trend reversal only above that level.
On the downside minor support is around 88.70 and any break below will drag the pair further down till 88.21/87.70.
Indicator (1 hour chart)
CCI (50) - Sell
CCI (14) – Sell
Ichimoku- Sell
It is good to sell on rallies around 89.10 with stop around 89.55 for the target of 88.25/87.70.
Rangarajan H
FX Analyst
FXWIREPRO.COM
The break of intraday resistance will take the pair to next target 90.10 level.
Short term trend reversal only above that level.
On the downside minor support is around 88.70 and any break below will drag the pair further down till 88.21/87.70.
Indicator (1 hour chart)
CCI (50) - Sell
CCI (14) – Sell
Ichimoku- Sell
It is good to sell on rallies around 89.10 with stop around 89.55 for the target of 88.25/87.70.
Rangarajan H
FX Analyst
FXWIREPRO.COM