The NZD/JPY pair has traded within a tight range recently, demonstrating a lack of clear directional momentum.
The NZD/JPY has been trading sideways recently, showing no clear trend. Technical indicators suggest a growing bearish momentum, with the RSI and MACD starting to turn in favor of the sellers. The 100 and 200-day SMA completed a bearish crossover at 92.00. However, Friday's session saw a modest decline of 0.32% to 91.00, hinting at a potential shift in sentiment. Technical indicators align with this observation. The Relative Strength Index of 52 suggests that buying pressure is on the wane.
Meanwhile, the Moving Average Convergence Divergence histogram is red and rising, indicating growing bearish momentum. This divergence between the price action and technical indicators suggests that selling forces may be gaining the upper hand. It is important to note that the 100 and 200-day Simple Moving Averages have converged and crossed at 92.00, forming a strong resistance level. A break below this confluence could intensify selling pressure and add further downward momentum to the pair.
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NZD/JPY Price Analysis: Consolidating in neutral terrain, 20-day SMA remains the one to watchIn Thursday's session, the NZD/JPY pair rose by 0.45% to 90.95, continuing the sideways movement seen in the past few sessions.
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NZD/JPY Price Analysis: Bulls await near-term break, neutral outlookThe NZD/JPY pair pulled back on Monday, declining by 0.80% to 90.70, but it continues to side-ways trade between 91.00 and 90.00.
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NZD/JPY Price Analysis: Bullish momentum fading, downside risk emergingThe NZD/JPY pair declined by 0.60% to 90.70 in Tuesday's session and threatens with a reversal in the recent bullish movements.
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NZD/JPY Price Analysis: Bullish momentum flat, 20-day SMA proves to be a strong barrierIn Wednesday's session, the NZD/JPY mildly fell to 90.60, continuing the sideways movement seen in the past few sessions.
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NZD/JPY Price Analysis: Buyers lose momentum, eyes on SMA crossoverIn Friday's session, the NZD/JPY pair declined by 0.20% to 90.80, encountering increased resistance and losing ground still holding the key 20-day Simple Moving Average (SMA).
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NZD/JPY Price Analysis: Cross remains neutral, stuck between 92.00 and 91.00The NZD/JPY pair has retreated from its recent highs, signaling a potential shift in momentum.
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