Nzd/jpy Outlook

• NZD/JPY has retreated after making a high of 92.35 and is currently trading around 90.60. Overall trend is weak as long as 91.50 holds.
• On the downside minor support is around 90.15 (200 day 4HMA) and any break below will drag the pair further down till 89.70/89.23 in short term.
• The pair’s minor resistance is around 91.50 and any break above will target 92.10/92.40.

Indicator (4 hour chart)

CCI (50) – Sell

Woodies CCI (14) – Sell

Ichimoku- Sell                                                                                                                    

It is good to sell on rallies around 90.90 with stop around 91.51 for the target of 89.25.

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