During Wednesday's session, the NZD/JPY pair experienced a mild setback, dropping below the 97.00 point.
The Kiwi records losses against the Yen but the outlook remains strong. Daily chart indicators display resilience, suggesting a potential continuation of the upward trend. During Wednesday's session, the NZD/JPY pair experienced a mild setback, dropping below the 97.00point. Nonetheless, the 20-day Simple Moving Average at 96.30 demonstrated its resilience once again at the start of the week, effectively staving off the sellers' attempts to breach it.
NZD/JPY daily chart The buyers, in a show of persistence, continue to maintain their positions above the 20-day Simple Moving Average , reinforcing the bullish trend's sustainability. The persistence of the daily technical indicators suggests a determination among market players to bring an end to the consolidation phase and buyers appear to be making a comeback following a short retreat. Upcoming trading sessions may see the pair navigate between support levels at 96.
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NZD/JPY Price Analysis: Kiwi gains ground and test the 97.00 levelIn Tuesday's session, the NZD/JPY pair saw promising upticks, edging closer to the 97.00 resistance point after a strong defense of the 20-day Simple Moving Average (SMA) at 96.30, which has proven to be resilient against sellers' attempts.
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NZD/JPY Price Analysis: Kiwi tebounds from 20-day SMA, yet consolidation loomsOn Wednesday, the NZD/JPY pair saw a formidable rebound from the 20-day Simple Moving Average (SMA) at 95.50, launching upward towards 96.75.
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NZD/JPY Price Analysis: Bulls try to maintain the uptrend despite persisting consolidationOn Monday, the NZD/JPY pair extended its consolidation phase after hitting a multi-year high last week.
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NZD/JPY Price Analysis: Cross reached multi-year highs, upside appears limitedOn Thursday, the NZD/JPY pair exhibited signs of fatigue, following its advancement to the multi-year highs logged earlier in the week.
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NZD/JPY Price Analysis: Cross resilient above 20-day SMA, further upside limitedOn Tuesday, the NZD/JPY pair demonstrated resilience above the 20-day Simple Moving Average (SMA) at 95.90, with the pair inching closer to cycle highs near 97.00.
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NZD/JPY Price Analysis: Bears gain ground, cross treads closely to the 20-day SMAOn Tuesday, the NZD/JPY pair encountered sustained selling pressure as the Japanese Yen powered upwards against its rivals.
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