- Analytics
- News and Tools
- Market News
- NZD/JPY Price Analysis: Sideways movement continues with bearish tone
NZD/JPY Price Analysis: Sideways movement continues with bearish tone
- NZD/JPY pair remains directionless, showing a lack of clear upward or downward momentum.
- Sellers maintain some control as the pair remains below its 20-day Simple Moving Average.
The NZD/JPY pair has been trading sideways over the past sessions, consolidating within a range and rose to 91.10 on Tuesday. Bears continue to win small battles and are slowly pushing the cross below the 20-day Simple Moving Average (SMA).
The Moving Average Convergence Divergence (MACD) histogram presents rising red bars, indicating increasing selling pressure. However, the Relative Strength Index (RSI) is rising from the midpoint, suggesting a potential recovery in buying momentum. Overall, the technical outlook for NZD/JPY remains mixed, with no clear trend emerging but with some selling signals emerging.
Traders can closely monitor key support and resistance levels to gauge market sentiment. Support levels currently stand at 91.00, 90.70 and 90.30, while resistance levels reside at 91.30, 91.50, and 92.00.
The prevailing range-bound movement aligns with the mixed technical outlook, indicating indecision in the market. Until a clear break above or below these support and resistance levels occurs, the sideways movement is likely to continue.
NZD/JPY daily chart
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
