In 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.
The Kiwi sees gains against the Yen, approaching the 97.00 resistance point. Daily chart indicators reflect strength, hinting at potential up-move continuation. Resistance looms at 97.00- 98.00; however, strong buying traction could drive a breakout to the upside. In 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 at 96.
In the last sessions, the pair side-ways traded using the 20-day SMA as a support and buyers seem to be back on track after a brief breather. Incoming trading sessions might see the pair navigating the territory between support levels at 96.30 and 95.00, and resistance level at 97.00, aiming for the recent high near 97.30. Notably, the resilience of buyers defending the 20-day SMA at 96.30 is a promising sign for a potential upward continuation.
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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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NZD/JPY Price Analysis: Sellers test strength as consolidation persistsDuring Monday's session, the NZD/JPY pair experienced a slight retreat as the sellers tried pushing past a strong resistance at the 96.30 area.
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