NZD/JPY has formed almost a double bottom around 87 level and is currently trading at 89.62.
It has also broken major resistance 89.41(Mar 9th high) and confirms short term bullishness jump till 91.07 (Mar 4th High) cannot be ruled out.
On the downside 89-89.10 (200 day 4Hour EMA) will be acting as short term support and any break below will take the pair further down till 88.40/87.80.
Indicators (4 Hour chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendations: Buy NZD/JPY around 89.65, SL 89, Target 91.05.
It has also broken major resistance 89.41(Mar 9th high) and confirms short term bullishness jump till 91.07 (Mar 4th High) cannot be ruled out.
On the downside 89-89.10 (200 day 4Hour EMA) will be acting as short term support and any break below will take the pair further down till 88.40/87.80.
Indicators (4 Hour chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendations: Buy NZD/JPY around 89.65, SL 89, Target 91.05.