The NZD/JPY pair, after logging a 0.30% gain on Monday, retreated slightly and consolidated around the 90.00 level.
NZD/JPY retreats from Monday's high, and consolidates around 90.00. RSI remains in positive territory, MACD rising green bars indicate bullish momentum. Bulls target resistance at 90.50, breakout could extend gains. The bulls remain in control in the near term, with the technical indicators painting a bullish picture.
The Moving Average Convergence Divergence is also bullish, with the histogram rising and green. Over the past seven sessions, NZD/JPY has traded sideways, fluctuating between the levels of 89.40 and 90.40. This consolidation period has formed three clear round support levels at 87.50, 88.00, and 88.50. Notably, the pair has also established resistance levels at 89.50, 90.00, and 90.50. The recent price action suggests that the bulls are in control, and a breakout above the 90.
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