- NZD/JPY has retreated from the 91.19 till 90.18. Short term trend is weak as long as 91.20 holds.
- On the downside minor support is around 90.17 (61.8% retracement of 89.06 and 92.40) and any break below will drag the pair further down till 89.05/88.21.
- The pair is facing resistance around 90.50 (200 day 4HMA) and any indicative break above would extend gains till 91.20/91.55.
Indicator (4 hour chart)
CCI (50) – Sell
Woodies CCI (14) – Sell
Ichimoku- Sell
It is good to sell on rallies around 90.50 with stop around 91.20 for the target of 89.10.
The material has been provided by InstaForex Company – www.instaforex.com