- NZD/JPY has declined till 88.75 and currently trading around 89.10. Short term trend is bearish as long as resistance 89.75 holds.
- On the downside minor support is around 88.70 and any break below will drag the pair further down till 88.21/87.10.
- The pair is facing resistance around 89.75(20 day HMA) and any indicative break above would extend gains till 91.20/91.55.
Indicator (1 hour chart)
CCI (50) – Sell
CCI (14) – Buy
Ichimoku- Sell
It is good to sell on rallies around 89.20 with stop around 89.80 for the target of 88.25/87.10.
The material has been provided by InstaForex Company – www.instaforex.com