In Tuesday's session, the NZD/JPY pair rose by 0.95% above 88.00.
The NZD/JPY pair's latest price action shows a reversal of last week's losses with the pair extending gains from Tuesday’s session. RSI is sharply rising, showing that buying pressure is recovering. Decreasing red bars in the MACD suggests that selling pressure is weakening. In Tuesday's session, the NZD/JPY pair rose by 0.95% above 88.00. Considering the fresh gains and the latest technical outlook, a reversal of last week's losses is on the cards.
However, the slope of the RSI is sharply rising, indicating that buying pressure is recovering. The Moving Average Convergence Divergence is also red, but the histogram is decreasing, suggesting that selling pressure is declining. This mixed technical outlook suggests that the NZD/JPY pair may continue to consolidate in the short term after the latest sharp losses. NZD/JPY daily chart Supports to the downside are located at 86.50, 86.30, and 86.00, while resistances are seen at 87.50, 87.
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NZD/JPY Price Analysis: Bearish bias prevails as technical indicators remain flatThe NZD/JPY currency pair has experienced continued sideways trading despite Tuesday's modest decline of 0.15%, settling at 89.40.
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NZD/JPY Price Analysis: Pair continues consolidating below 90, signs of momentum buildingThe NZD/JPY currency pair is trading sideways within a neutral consolidation.
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NZD/JPY Price Analysis: Sideways consolidation persists, bears to stay cautiousThe NZD/JPY currency pair is consolidating sideways within a familiar range below 90.00.
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NZD/JPY Price Analysis: Bears push slightly down, testing support at 89.70The NZD/JPY currency pair is facing renewed selling pressure on Tuesday, declining by 0.30% to trade around 89.70.
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