CFD Trading Rate New Zealand Dollar vs Japanese Yen (NZDJPY)

• The daily RSI shows that buyers' hold over the market is likely fading, signaling the growing presence of sellers.
• On the hourly chart, indicators underline a prominent seller command in the past sessions.

The NZD/JPY is trading slightly lower at around 91.23. It seems the firm grip buyers had over the market is dwindling, yet the pair doggedly persists above crucial Simple Moving Averages (SMAs). Market watchers should eye the short-term trajectory of the NZD/JPY for any potential shifts that could give sellers the upper hand. Specifically, if bears breach the 20-day Simple Moving Average (SMA) at 91.00.

On the daily RSI fluctuates around the positive region but is currently pointing down. This, combined with the rising red bars trend in the MACD (Moving Average Converge Divergence) histogram, indicates that buyer dominance is fading and the market could begin favoring sellers soon.

NZD/JPY daily chart

In addition, the hourly Relative Strength Index (RSI) hovers below the neutral 50 line, reflecting a dominant presence of sellers in the recent sessions. The negative thrust is confirmed by the MACD, which reveals decreasing green bars, indicating diminishing positive momentum.

NZD/JPY hourly chart

Upon evaluating the broader landscape, the NZD/JPY is currently hovering above its key Simple Moving Averages (SMAs), reflecting continued buying pressure thereby sustaining the long-term uptrend. However, the pair closely challenges the 20-day SMA, suggesting potential for further downward movements if this level doesn’t hold. Moreover, the pair maintaining a stance above the 100 and 200-day SMAs reinforces a long-term bullish view.

• The daily RSI reveals that market momentum is currently dominated by sellers.
• The daily MACD presents flat green bars, indicating a lack of buying traction.
• In the hourly chart, the RSI shows slight improvement, suggesting sellers losing some ground.

The NZD/JPY stabilized at around 90.94 and managed to clear most of its daily losses. However, in the shorter time frames, there are signs of a bullish recovery.

The daily Relative Strength Index (RSI) hovers in the negative territory. The most recent reading fell to 48, reflecting a market momentum currently dominated by sellers. Furthermore, the Moving Average Convergence Divergence (MACD) histogram prints flat green bars, indicating a lack of positive momentum.

NZD/JPY daily chart

Transitioning to the hourly chart, the RSI seems to confirm the tepid sentiment observed on the daily chart. The most recent reading also lands in the 48 range. Nevertheless, signs of slight improvement towards the positive territory appear in the RSI and the latest session reading climbed from a preceding low of 41. Moreover, the MACD histogram on the hourly chart prints green bars, suggesting a possible pick-up in positive momentum.

NZD/JPY hourly chart

The broader outlook, on the other hand, suggests that the bulls control the overall trend, but as long as the buyers fail to reclaim the 20-day Simple Moving Average (SMA), the short-term outlook will remain tilted in favor of the buyers.

• The daily RSI and MACD reveal a weaker NZD/JPY, pointing towards bearish momentum.
• The negative trend is stronger on the hourly chart.
• Despite short-term bearish inclination, the cross position above main SMAs signifies a bullish sentiment in the longer term.

The NZD/JPY is trading at the 91.14 level, securing some daily gains after peaking at a daily high of 91.60. Despite a bearish short-term trend, the pair maintains a bullish position over the longer term, being positioned above key Simple Moving Averages (SMAs). For the short term, bears seem to be gearing up and bulls starting to weaken.

On the daily chart, the Relative Strength Index (RSI) is currently trending in negative territory, with the latest reading of 49. This, coupled with decreasing green bars on the Moving Average Convergence Divergence (MACD) histogram, indicates a slowdown in positive momentum, suggesting that sellers are currently dominating the market.

NZD/JPY daily chart

Switching to the hourly chart, the RSI similarly shows lower readings, with the latest value at 43, signaling a stronger negative trend in this time frame. Additionally, the MACD histogram shows an increase in red bars, reinforcing the negative momentum. This shift could indicate an increase in selling pressure during recent trading sessions and that the cross may see further downside ahead of the Asian session.

NZD/JPY hourly chart

The broader inspection of NZD/JPY illustrates a mixed technical scenario according to its position relative to its Simple Moving Averages (SMAs). In the short term, bearish tendencies are apparent as the NZD/JPY fell below the 20-day SMA last week and failed to re-conquer it. This move might trigger selling pressure from a short-term perspective. However, the position of NZD/JPY above the 100-day and 200-day SMAs shows a more bullish underlying structure in longer-term horizons.

In case the bulls fail to regain the 20-day SMA, the cross might be exposed to further downside in the coming sessions.

• The daily chart RSI signals NZD/JPY's shift towards negative momentum.
• Hourly RSI reveals an oscillating pattern in oversold territory, indicating increasing bearish pressure.

The NZD/JPY declined to 90.95 on Friday, marking a decrease of 1%. Sellers have gained significant ground and hourly indicators indicate oversold conditions which suggests that the pair might sideways trade in the next sessions. As for now, the short term has turned somewhat bearish for the cross as it lost the 20-day Simple Moving Average (SMA).

Based on the indicators of the daily chart, the NZD/JPY has pivoted towards a negative momentum. Its Relative Strength Index (RSI) is settling into negative territory, with a last reading of 47. This change indicates that sellers are taking control after a period of positive strength that had the RSI peaking at 63 this week.

NZD/JPY daily chart

From the hourly chart, the RSI values reveal oversold conditions, with the most recent reading dipping to 30. The Moving Average Convergence Divergence (MACD) histogram generates flat red bars, signaling sustained negative momentum. This coincides with a drop in buyer demand over the past hours, and it could set the tone for the upcoming trading sessions. However, a consolidation shouldn't be ruled out as bears might take a breather.

NZD/JPY hourly chart

In the broader outlook, the NZD/JPY, based on its Simple Moving Average (SMA) still holds a positive outlook as it holds above the 100 and 200-day SMAs. However, the cross, having fallen today below the 20-day SMA, presents a bearish signal for the short term which aligns with the indicators on the daily and hourly chart.

• The daily chart reveals a positive momentum, with the RSI and MACD demonstrating the upper hand of buyers.
• The hourly RSI is exchanging hands around the 50 level.
• The pair is building strong support around the 20-day SMA.

The NZD/JPY currency pair is trading near the 91.541 level, experiencing what appears to be a robust uptrend. Indicators on the daily chart remain strong while hourly indicators stand somewhat mixed. On the negative side, for bears to start talking, they must breach the 20-day Simple Moving Average (SMA) at 91.00 which is acting as a strong support in favor of the bulls.

On the daily chart, the Relative Strength Index (RSI) shows positive momentum for the NZD/JPY pair, settling at about 56. The recent history of the RSI in positive territory highlights the dominance of buyers, occasionally counterbalanced with dips flirting with the negative domain. Concurrently, the MACD histogram displays green bars, further indicating positive momentum in the market.

NZD/JPY daily chart

Moving to the hourly chart,  the RSI fluctuates around the neutral mark of 50, with the latest reading jumping back to 57 after a slight decline earlier in the session. The MACD histogram continues to print flat green bars, indicating a flattening buying momentum.

NZD/JPY hourly chart

Taking into account this technical landscape, the NZD/JPY shows a bullish inclination in a broader outlook. It stands notably above the 20, 100, and 200-day Simple Moving Averages (SMAs), indicating a consistent uptrend. As long as the pair holds above the key 20-day average, the bullish trend will remain intact. However, the mixed outlook on the hourly chart advises that the buyers may give up ahead of the Asian session which could pave the way for a retest of the mentioned average.

• The hourly chart indicators reveal a mounting selling pressure, hinting at a pause in bullish momentum.
• To maintain the current bullish momentum, it's essential for the pair to uphold its standing above the key SMA.

The NZD/JPY pair declined near the 91.33 mark, indicating a battle between optimism favoring a bullish market and mounting bearish pressure. The market trend leans towards the bullish side as the pair stays above critical Simple Moving Averages (SMAs) levels; however, a shift in momentum toward downward forces suggests impending consolidation.

On the daily chart, the Relative Strength Index (RSI) is in positive territory, indicating a mild bullish momentum. Despite a recent decrease, the prevailing trend remains largely positive. The Moving Average Convergence Divergence (MACD) reveals decreasing green bars, also suggesting a slight loss in positive momentum. However, the persisting positive RSI readings indicate that the majority of traders favor the buy side.

NZD/JPY daily chart

In the hourly analysis, the RSI hovers in the oversold territory, indicating strong selling pressure but as the downward movements are overextended an upward corrective move may be possible ahead of the Asian session. In addition, the MACD histogram prints red bars, adding arguments for the negative momentum.

NZD/JPY hourly chart

Inspecting the broader perspective, the NZD/JPY demonstrates a bullish trend with its current standing above the 20,100, and 200-day Simple Moving Averages (SMAs). However, the bears seem to be eyeing the 20-day SMA level of 91.00, which poses a significant turning point. A successful breach below this level could reinforce the arguments for the bears and the pair could see additional downside in the next sessions.

• NZD/JPY extends gains as RBNZ holds its OCR at 5.5% to tame inflation.
• RBNZ committee expects higher rates will bring inflation back within the target range.
• BoJ’s Ueda stated not altering monetary policy solely to address FX fluctuations.

NZD/JPY continues its winning streak for the third successive session on Wednesday. The pair moves higher to near 92.20 after the hawkish hold by the Reserve Bank of New Zealand (RBNZ). As anticipated, the central bank has decided to maintain its Official Cash Rate (OCR) at 5.5% for the sixth consecutive meeting.

The Reserve Bank of New Zealand's committee expresses confidence that sustaining the OCR at a restrictive level for an extended period will bring consumer price inflation back within the target range of 1 to 3 percent by 2024. Despite headline inflation slowing to a two-and-a-half-year low of 4.7% in the fourth quarter of 2023, it remains significantly above the target level.

However, some economists perceive this decision as dovish, particularly considering New Zealand's entry into a recession and the sharp decline in consumer confidence. Market sentiment suggests the possibility of the RBNZ's first rate cut occurring in August.

On the other side, the strong US inflation data combined with weak Japanese economic indicators could raise the likelihood of Japanese authorities needing to intervene in the foreign exchange (FX) market. However, Bank of Japan (BoJ) Governor Kazuo Ueda stated that the central bank would not alter monetary policy solely to address FX fluctuations.

Governor Ueda also highlighted that Japan's persistent deflation and low inflation levels have made it challenging to influence public inflation expectations through monetary base expansion. With trend inflation still below 2%, it is essential to support the economy's trajectory towards achieving the 2% target by maintaining accommodative monetary conditions.

• Daily RSI shows rising buying traction, while a positive MACD suggests a growing momentum.
• On the hourly chart, the same indicators hint at potential short-term pullbacks due to minor negative momentum.
• Despite a bullish overall outlook, the buyers need to defend short-term SMAs and defend them to prevent potential losses.

The NZD/JPY pair is trading at 91.79, experiencing a 0.25% uptick. It is currently showcasing a strong bullish course, with reinforced buying momentum as it comfortably positions above its main Simple Moving Average (SMA). Indicators remain strong on the daily chart while hourly indicators may be hinting at an incoming consolidation.

On the daily chart, the Relative Strength Index (RSI) is comfortably positioned within positive territory, suggesting that buying pressure outweighs selling pressure. Moreover, the Moving Average Convergence Divergence (MACD) shows rising green bars, an indication of growing buying momentum.

NZD/JPY daily chart

Switching to the hourly chart, a somewhat comparable trend is noticeable. The RSI took a big hit during the American session and seems to be slowly recovering. The hourly MACD, however, presents red bars, hinting at possible short-term negative momentum. This suggests that some caution is needed for intra-day traders.

NZD/JPY hourly chart

On the broader outlook, the NZD/JPY maintains its position above the 20, 100, and 200-day SMAs, indicating sustained long-term buying pressure. Therefore, both the short-term and long-term technical outlook for the pair seems to point towards a bullish trend. In summary, while the hourly MACD reveals minor negativity which may produce some temporary pullbacks, the overall bias for cross on both the daily and longer-term charts is bullish

• The daily chart showcases increased buying momentum for NZD/JPY, with RSI signaling a shift from bearish to bullish territory.
• Indicators on the hourly chart also reveal persistent buying pressure, though MACD hints at a potential slowing down of this momentum.
• The bulls need to maintain the pair's standing above the SMAs, or else it could hint at a possible bearish reversal.

The NZD/JPY pair, currently trading at 91.57, is recording gains of 0.45%, indicative of a reinforced bullish momentum. Positioned above key Simple Moving Averages (SMAs), the bullish sentiment endures, despite intermittent signs of momentum loss on the hourly chart as buyers seem to have already given it all for Monday’s session. Indicators on the daily chart remain positive.

The daily Relative Strength Index (RSI) for the NZD/JPY pair has moved from negative to positive territory in the last sessions which indicates a growing strength of the buyers. Simultaneously, the MACD histogram is displaying rising green bars, thus confirming positive momentum.

NZD/JPY Daily Chart

Zooming to the hourly chart, a similar trend is observed in the RSI, with the latest reading in positive territory, which indicates a steady buying pressure. However, the MACD histogram tells a slightly different story, showcasing a falling trend despite the bars remaining green. This could indicate that investors may be losing steam, and may consolidate gains ahead of the Asian session.

NZD/JPY Hourly Chart

Regarding the overall trend, the NZD/JPY exhibits increased bullish activity, particularly signified by its position above the Simple Moving Average (SMA). Being above the 20-day SMA is indicative of an improved short-term trend. On a medium-term outlook, the pair's position above the 100-day SMA signals strong bullish momentum, and above the 200-day SMA implies a notable bullish bias in the longer-term trend. In conclusion, any corrective downward movement which keeps the cross above this levels won’t present a threat to the overall bullish trend.

• The NZD/JPY settled at 91.12 mild losses in the Friday session.
• The daily RSI reveals a steady bullish momentum.
• Hourly chart indicators show a rising bullish sentiment despite some variability.

The NZD/JPY pair, with a slight decline, is currently trading at 91.12 in Friday's session.On the daily chart, the bullish momentum remains steady while the buyers are more present on the hourly timeframes.

The daily chart reveals that the Relative Strength Index (RSI) for the pair is displaying a broadly favorable trend, with a recent rise from the negative zone into positive territory. Meanwhile, the Moving Average Convergence Divergence (MACD) is producing green bars, indicating positive ascending momentum.

NZD/JPY daily chart

Turning attention to the hourly chart a similar pattern is observed in the RSI values. Despite some variability, in recent hours, the RSI remains in the positive sector, rendering the momentum chiefly bullish. The MACD supports this bullish inclination as it illustrates ascending green bars, implying intensified upward momentum on an hourly timeline.

NZD/JPY hourly chart

As for the overall trend, NZD/JPY sits above its 20,100 and 200-day Simple Moving Average (SMA), indicating a bullish stance in the long run.

In summary, as the daily and hourly RSI indicators, in conjunction with the MACD's green bars, the momentum favors the buyers. However, some flatness was seen in the daily indicators but as long as the pair remains above its main SMAs, the outlook will be positive.

• The daily chart signifies a bullish market; yet, the hourly chart shows hints of a short-term bearish reversal.
• The NZD significantly weakened during the American session and cleared daily gains.
• The hourly RSI dived from the overbought area near oversold terrain.

The NZD/JPY cleared all of its daily gains and fell by nearly 0.75% during the American session. Bearish clues emerge on the hourly chart, but the daily technical outlook remains somewhat bullish.

On the daily chart, the NZD/JPY Relative Strength Index (RSI) reveals its latest reading, slightly shifting towards a positive trend. The value is edging past the 50 mark after a period of predominantly being in negative terrain. However, with the latest RSI reading barely past 50, the momentum can still be seen as not strongly favoring the buyers.

NZD/JPY daily chart

On the hourly RSI reading fell on the negative side after being near 70. The MACD histogram has begun to print rising red bars, also suggesting a rising negative momentum.

NZD/JPY hourly chart

Regarding the overall trend, the NZD/JPY pair jumped above the 20-day SMA today, often serving as a bullish short-term signal. In addition, the pair stands above its 100 and 200-day Simple Moving Average (SMA), also flashing a long-term positive outlook.

In conclusion, based on both the daily and hourly trends, plus taking the position in relation to the SMA into consideration, the NZD/JPY shows signs of a potential shift from a bearish to a bullish stance in the immediate term. However, if the bulls hold the above main SMAs, the outlook will still be positive.

• The RSI on the daily chart lies deep in negative terrain.
• Inidicators on the hourly chart are showing a slight improvement.
• The 20 and 100-day SMAs are about to complete a bearish crossover around 91.00.

In Tuesday's session, the NZD/JPY pair is trading with a slight rise to 90.42, marking a 0.16% gain. Despite this, sellers retain dominance within the broader market scenario, hinting towards an entrenched bearish sentiment. Encouragingly though, hourly data suggests the potential for short-term bullish corrections, indicating a touch of buyer resilience.

On the daily chart, the Relative Strength Index (RSI) shows a predominantly negative trend, remaining in the negative territory in the last sessions. Concurrently, the Moving Average Convergence Divergence (MACD) histogram reveals rising red bars, indicating a rising negative momentum.

NZD/JPY daily chart

Moving on to the hourly chart, RSI values are inclining more towards the positive side, with the recent readings registered at 53. This shift may hint at a short-term gain in buyers' momentum. In addition, the hourly MACD histogram displays green bars, adding arguments for the recovering bullish momentum.

NZD/JPY hourly chart

Upon examining the broader perspective, the NZD/JPY has showcased significant bearish tendencies as its sits below its 20, 100 and 200-day Simple Moving Averages (SMA). In addition, a bearish crossover of the 20 and 100-day SMA at around 91.00 could precipitate even sharper declines.

Summarizing, sellers seem to have control over the NZD/JPY pair's direction on the daily chart. However, recent hourly data indicates potential short-term bullish corrections. Nevertheless, the prevailing trend is inclined towards further weakness, reinforced by the SMA positioning, and a potential bearish crossover.

• Daily chart signals rising selling traction with the pair now below the key level of 90.50.
• Hourly chart indicators depict a potential consolidation period with indicators somewhat flat.
• The last hope for the cross is now the 200-day SMA.

In Thursday's session, the NZD/JPY declined to 90.40, with a decline of 0.43%. Bears are in control after successfully conquering the 100-day Simple Moving Average (SMA) while the selling momentum seems to have flattened on the hourly time frame.

On the daily chart, the NZD/JPY pair exhibits a faltering momentum. Despite intermittent upticks, the Relative Strength Index (RSI) has spent much of the last sessions in negative territory, indicating a dominance of sellers. The Moving Average Convergence Divergence (MACD) complements this view as it showcases rising red bars, pointing toward an increase in negative momentum.

NZD/JPY daily chart

Switching to the hourly chart, RSI values are mildly oscillating in the negative territory with the latest reading clocked at 42. The hourly MACD histogram adds to the complexity as it reveals green bars that suggest the downward momentum might be slowing. Comparing the daily and hourly charts, contrasting signals hint at a period of consolidation for NZD/JPY before a clearer direction emerges.

NZD/JPY hourly chart

On a larger scale, the pair resides now below the 20 and 100-day Simple Moving Averages (SMAs), indicating bearishness. Yet, its position above the 200-day SMA adds a hint of bullish potential. However, as bearish momentum is growing, the sellers might attack the longer moving average to confirm the negative trend.

• The NZD/JPY trades neutral after getting rejected by the 20-day SMA.
• The daily chart shows that the RSI reveals weak buying traction.
• The hourly chart also showcases a similar situation with its RSI hinting at weak buying pressure.

The NZD/JPY is currently trading at 90.90, mostly neutral after trimming daily gains. From a broader perspective, the pair's position above the 100 and 200-day Simple Moving Averages (SMAs) suggests that despite the weakened buying momentum, the bulls continue to assert their control. Buyers must target the 20-day SMA to continue edging higher.

On the daily chart, the current market dynamics for the NZD/JPY pair reveal a neutral to negative trend as buyers are struggling to gather traction. The Relative Strength Index (RSI) presently resides in the negative territory. This trend is further emphasized by the red bars of the Moving Average Convergence Divergence (MACD), which reveals a steady selling momentum and weakened buying traction.

NZD/JPY daily chart

Switching to the hourly chart, the RSI recently read 41, which also positions it within negative territory. As with the daily chart, the MACD histogram on the hourly also illustrates flat red bars, further signifying weak market momentum.

NZD/JPY hourly chart

In conclusion, both the daily and hourly charts indicate a negative trend for NZD/JPY with weak buying pressure. Notwithstanding, on a larger scale, the pair remains above the 100 and 200-day Simple Moving Averages, hinting that bulls may still have broader control of the market. The negative market outlook could be further confirmed if the 20 and 100-day SMA complete a bearish crossover around the 91.00 area.

• The daily technical analysis reveals a steady bearish momentum but with indicators recovering.
• The hourly chart hints at initial signs of bullish momentum with the RSI in the positive territory.
• Despite the bearish short-term indicators, the pair is trading above the main SMAs, indicating a persisting bullish sentiment in the larger trend.

During Tuesday's session, the NZD/JPY pair rose to the 91.05 level, showing a slight gain of 0.15%. Currently, the market is primarily under the seller's control, resulting in a short-term bearish outlook. Nonetheless, the broader outlook remains bullish, signifying the potential for buyers to regain control in the next sessions.

On the daily chart, the NZD/JPY pair has been demonstrating a bearish momentum, as suggested by the Relative Strength Index (RSI) readings. The RSI, which was in the positive territory last week, plunged into the negative zone, marking a progressive decline with an upswing printed in Tuesday's session.

NZD/JPY daily chart

Moving on to the hourly chart, the RSI paints a slightly different picture with the pair showing early signs of bullish momentum. The RSI oscillates between negative and positive territories, with more recent readings soaring into the positive area. This suggests that in the short term, buyers might be gaining control. However, the presence of rising red bars on the Moving Average Convergence Divergence (MACD) histogram suggests that the bears are still present and that the bears are around the corner.

NZD/JPY hourly chart

Despite bears currently holding ground as evidenced by the pair trading below the 20-day Simple Moving Average (SMA), the overall trend remains with bulls. This is proven by the fact that the pair is trading above the 100- and 200-day SMAs indicating a strong bullish momentum in broader timelines. That being said, the buyers shouldn't relax and continue targeting the 20-day SMA to continue climbing higher.

• Bearish pressure intensified on the daily chart, and the pair lost the 20-day SMA.
• As the pair lies deeply oversold on the hourly chart, buyers might start taking profits.

The NZD/JPY pair is trading at 90.748, marking a significant dip of 0.98%. Despite the presence of strong selling pressure, the pair persistently resides above its 100 and 200-day Simple Moving Averages (SMAs). This suggests a dominant bullish force in long-term time frames. But the fact the sellers conquered the 20-day average, paints the short-term outlook with a negative tone.

Based on the indicators of the daily chart, some important dynamics can be observed. The Relative Strength Index (RSI), currently at 43, resides in the negative territory. This position, coupled with its falling, suggests a dominance of sellers in the market for now. In addition, the Moving Average Convergence Divergence (MACD) histogram reveals rising red bars, further substantiating the negative momentum.

NZD/JPY daily chart

Shifting to the hourly chart, the RSI shows a value of 23, indicating that the pair is deeply oversold. Compared to the daily chart, an amplified negative trend is apparent. However, the MACD on this shorter time frame similarly showcases flat red bars, emphasizing the current bearish momentum but a less intense grip which might suggest that the pair might start consolidating.

NZD/JPY hourly chart

If the bulls want to maintain the overall bullish trend, they must defend the 100 and 200-day SMAs. In case lost, the bearish pressure might intensify further. In the meantime, they could act as a support for sellers to consolidate their downward movements.

• On the daily chart, indicators are consolidating but the outlook is favoring the bulls.
• The hourly chart gives hints of mounting selling traction with indicators deep in the red.

The NZD/JPY pair is currently trading at 91.60, slightly down in Thursday's session. Bulls hold a strong command over the market, even amidst transient selling pressure, which seems not to have weakened their movement with the pair holding above the 20,100 and 200-day Simple Moving Averages (SMAs).

On the daily chart, the NZD/JPY pair reveals an influx of buyers dominating the market, as indicated by the Relative Strength Index (RSI) progressing towards positive territory. The latest reading at 55, sits in the positive zone, but points down, as indicators consolidate. Meanwhile, the Moving Average Convergence Divergence (MACD) reveals a declining trend with red bars, indicating steady but weakening negative momentum.

NZD/JPY daily chart

The hourly landscape provides a more detailed perspective. The RSI has been fluctuating around the negative territory in the recent hours, dropping to 45 by the last hour. It suggests an increase in selling pressure in the short term compared to the daily setup. The continuous red bars of the MACD affirm this, reflecting the negative momentum represented in the RSI. This implies that the sellers step in as the buyers seem to be taking profits.

NZD/JPY hourly chart

Overall, while bulls are in command of the broad trend, the pair could see some additional selling pressure, as selling momentum is present and buyers might continue taking profits from the last two days' gains.

• The daily chart reveals bullish sentiment, with RSI on an upward trajectory out of the negative zone and MACD depicting decreasing red bars.
• Indicators are consolidating overbought conditions on the hourly chart.
• Bulls must recover the 20-day SMA to confirm a recovery.

The NZD/JPY currency pair is trading at 91.54, showing gains in Wednesday's session. The broader technical landscape suggests the buyers. Despite recent bearish activity pushing the pair below the 20-day Simple Moving Averages (SMAs), the pair remains aloft of the 100 and 200-day SMAs, indicating an enduring bullish control.

On the daily chart, the NZD/JPY pair exhibits relatively bullish momentum. The Relative Strength Index (RSI) indicates a positive trend with an upward slope, moving above the negative territory. This, combined with the decreasing red bars from the Moving Average Convergence Divergence (MACD) which indicates declining negative momentum, suggests the buyers are gaining the upper hand over sellers.

NZD/JPY Daily Chart

Transitioning to the hourly chart for the NZD/JPY presents a slightly different scenario. Here, the RSI consistently indicates positive with minor fluctuations, hinting at strong buying momentum but consolidating after entering in the overbought area during the European session. Meanwhile, the MACD reveals flat red bars, signifying stagnant negative momentum suggesting that the buyers are gearing up for the next upward leg.

NZD/JPY Hourly Chart

• The positive outlook on the daily chart improved but bulls aren’t yet in command.
• the RSI was seen above 70 in recent hours, which may lead to a consolidation.
• To prevent any potential losses, the bulls must defend the key SMAs.

In Tuesday's session, NZD/JPY is trading at 91.36, registering an uptick of 0.74%. Despite some signals of a consolidation incoming, the market sees dominance by buyers, which leads to a broader bullish outlook. Ahead of the Asian session, the pair may correct overbought conditions on the hourly chart and see some red.

On the daily chart, the NZD/JPY pair posts positive momentum following a shift from the negative territory. The Relative Strength Index (RSI) now sits in the positive territory at 52 while the Moving Average Convergence Divergence (MACD) red bars recede, signaling a potential decrease in negative momentum.

NZD/JPY daily chart

Transitioning to the hourly chart, the NZD/JPY pair displays a stronger positive trend. The RSI enters the overbought territory due to consistent readings above 70. Sharp green bars in the MACD histogram signify strong positive momentum over the past few hours, suggesting buyers dominate the market for now. An RSI above 70 suggests an overextended buying momentum which typically leads to a downward consolidation

NZD/JPY hourly chart

In conclusion, both daily and hourly analyses point to a bullish outlook for the NZD/JPY pair. Traders should monitor the MACD for continued red bar reduction or a shift to green bars, and the RSI to see if it remains within or moves away from the overbought territory in the hourly chart. These data points would suggest a potential price reversal or continuation, respectively.

Regarding a Simple Moving Average (SMA) analysis, despite the bears gaining ground and pushing the pair below the 20-day Simple Moving Average (SMA), the pair remains above the 100 and 200-day SMAs. This pattern suggests that the bulls maintain control of the overall trend.