- NZD/JPY has recovered till 90.09 and started retreating from that level. Intraday trend is weak as long resistance 89.50 holds.
- The break of intraday resistance will take the pair to next target 90.10 level.
- Short term trend reversal only above that level.
- On the downside minor support is around 88.70 and any break below will drag the pair further down till 88.21/87.70.
Indicator (1 hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
It is good to sell on rallies around 89.10 with stop around 89.55 for the target of 88.25/87.70.
The material has been provided by InstaForex Company – www.instaforex.com