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Short

NZD/JPY is trading near 200 day 4HMA,decline till 89 is possible

FX:NZDJPY   New Zealand Dollar/Japanese Yen
61 0 1
NZD/JPY is currently trading around 90.30 after a slight bounce back till 90.74. Intraday trend is bearish as long as resistance 90.80 holds.

On the downside minor support is around 90.17 (61.8% retracement of 89.06 and 92.40) and any break below will drag the pair further down till 89.05/88.21.

The pair is facing resistance around 90.80 (55 day 4HMA) and any indicative break above would extend gains till 91.20/91.55.

It is good to sell on rallies around 90.35 with stop around 90.80 for the target of 89.10.




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