NZD/JPY takes support around 88.70,jump till 90 cannot be ruled
NZD/JPY has taken trend line support 88.60 (Trend line joining 84.05 and 87.01) and recovered from that level. Intraday trend is bullish as long as support 88.60 holds.
On the upside minor resistance is around 89.73 (200 day 4HEMA) and any break above will take the pair to next target 90.04/90.80.
Indicators (4 Hour chart)
CCI (50) - Sell
CCI (14) - Sell
CCI (14)-Sell
Recommendation: Buy NZD/JPY around 89, SL 88.60, Targets 90.05.
On the upside minor resistance is around 89.73 (200 day 4HEMA) and any break above will take the pair to next target 90.04/90.80.
Indicators (4 Hour chart)
CCI (50) - Sell
CCI (14) - Sell
CCI (14)-Sell
Recommendation: Buy NZD/JPY around 89, SL 88.60, Targets 90.05.