Nzd/jpy Breaks Trend Line Support Around 90.75, Decline Till 89.50 Cannot be ruled Out

• NZD/JPY has broken short term support 90.75 (trend line joining 88.73 and 90) and declined till 89.80. Short term trend is weak as long as resistance 90.80 holds.
• On the upside minor resistance is around 90.80 and any break above will take the pair to next targets 91.50/91.88.
• The support is around 89.70 and break below will drag the pair further down till 89.20/88.70.

Indicators (1 Hour chart)

CCI (50) – Sell

CCI (14) – Sell

Ichimoku- Sell

Recommendation: Sell NZD/JPY around 90.25 SL 90.80, Target 88.80.

The material has been provided by InstaForex Company – www.instaforex.com