FxWirePro

NZD/JPY Short Term Outlook

Short
FX:NZDJPY   New Zealand Dollar / Japanese Yen
0
Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 91.78
Kijun-Sen level: 92.67
Ichimoku cloud top: 92.95
Ichimoku cloud bottom: 92.53
NZD/JPY has recovered slightly after making a low of 91.38 (23.6% retracement of 83.34 to 93.96). Overall trend is bearish as long as short term resistance 93 holds.
On the downside break below 91.38 will target 89.90/88.61 in short term.
The pair’s short term resistance is around 93 and any break of would extend gain to 94.

Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) –Sell

Recommendation: Sell NZD/JPY around 91.85-90, SL 93, Targets 89.90/88.61.