- NZD/JPY is struggling to break above 89 and is retreating from that level. Overall trend is bearish as long as resistance 89.10 holds.
- On the downside minor support is around 88.47 and any break below will drag the pair further down till 87.70/87.10 in short term.
- The break of major resistance 89.10 will confirm short term trend reversal, a jump till 90 cannot be ruled out.
Indicator (1 Hours chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
It is good to sell around 88.70 with stop around 89.10 for the target of 87.70.
The material has been provided by InstaForex Company – www.instaforex.com