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NZD/JPY Short term Report

FX:NZDJPY   New Zealand Dollar / Japanese Yen
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NZD/JPY has broken major support 88.50 (200 day 4 HMA ) and decline till 87.05 cannot be ruled out.

The pair’s minor resistance is around 89.20 (55 day 4HMA) and any break above could pave way for next target around 90 in short term.

On the downside any break below 88.50 will drag the pair further down till 87.80/87.05.

Indicators (4 hour chart)

CCI (50) – Sell

CCI (14) – Sell

Ichimoku-Sell

Recommendation: Sell NZD/JPY around 88.50, SL 89, Target 87.05
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