NZD/JPY Short Term Outlook

FX:NZDJPY   New Zealand Dollar / Japanese Yen
96 0 2
NZD/JPY has taken support around 88.62 and recovered from that level. Overall trend is bullish as long as support 88.50 holds.

The pair’s short term resistance is around 90.21 ( 61.8% retracement of 94.03 and 84.10) and above will take the pair to next target 91.80.

On the downside break below 88.50 will take the pair to 88/87.65.

Indicators (1 hour chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy

Recommendation: Buy NZD/JPY around 89.50, SL 88.48, Targets 90.18/91.70.

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