The NZD/JPY pair declined by 0.60% to 90.70 in Tuesday's session and threatens with a reversal in the recent bullish movements.
NZD/JPY has been in a sideways movement for the past few sessions, with sharp losses in Tuesday's session. RSI is declining sharply, MACD histogram is green and decreasing, suggesting that buying pressure is declining. A breakdown below 90.00 could confirm further downside potential. The NZD/JPY pair declined by 0.60% to 90.70 in Tuesday's session and threatens with a reversal in the recent bullish movements.
The Moving Average Convergence Divergence histogram is green and decreasing, suggesting that buying pressure is declining. The MACD histogram direction is green and decreasing, confirming the bearish momentum. The 90.00 level is crucial for the pair’s near-term outlook. A breakdown below this support could open the door to additional losses, potentially targeting the next psychological support at 89.50.
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