FxWirePro
Long

NZD/JPY Short term Outlook

FX:NZDJPY   New Zealand Dollar / Japanese Yen
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NZD/JPY has recovered after making a low of 88.67. 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 88.50 (200 day 4Hour EMA ) will be acting as short term support and any break below will take the pair further down till 87.80/87.

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

CCI (14) – Buy

Ichimoku- Buy

Recommendations: Buy NZD/JPY around 89.35, SL 88.40, Target 91.0

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