FxWirePro
Long

NZD/JPY Short term Outlook

FX:NZDJPY   New Zealand Dollar/Japanese Yen
68 1 1
NZD/JPY has broken short term resistance 89.45( Trend line joining 91.08 and 89.85)
and jump till 91.05 cannot be ruled out. Overall trend is still bullish as long as support 88.40 holds.

The pair’s major resistance 90 and any break above could pave way for next target 91.07 (Mar 4th High) cannot be ruled out.

On the downside 88.60 (200 day 4HMA) will be acting as short term support and any break below will take the pair further down till 87.80/87.Minor support is around 89.30

Indicators (4 Hour chart)
CCI (50) – Buy

CCI (14) – Buy

Ichimoku- Buy

Recommendations: Buy NZD/JPY around 89.65, SL 89.20, Target 91.05.
immperial
2 years ago
You overlooked the Berish engulfing candle
Reply
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