The NZD/JPY pair is trading at 90.748, marking a significant dip of 0.98%.
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. Despite the presence of strong selling pressure, the pair persistently resides above its 100 and 200-day Simple Moving Averages . 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.
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.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NZD/JPY Price Analysis: Bullish momentum on the rise, short-term outlook still negativeThe NZD/JPY pair is trading at 90.98, with a gain of 0.22%.
Read more »
NZD/JPY Price Analysis: Bears maintain control, potential bullish shift on the horizonThe NZD/JPY is currently trading at 90.61, reflecting a slight decrease at the start of the week.
Read more »
NZD/JPY Price Analysis: Bears intensify their grip, bulls must defend SMAsIn Monday's trading, the NZD/JPY reversed its course and gave up daily gains to decline towards 90.60.
Read more »
NZD/JPY Price Analysis: Bulls add gains and indicators reach overbought conditionsIn Tuesday's session, NZD/JPY is trading at 91.36, registering an uptick of 0.74%.
Read more »
NZD/JPY Price Analysis: Bulls are firmly in control according to daily trends, houly indicators consolidateThe NZD/JPY currency pair is trading at 91.54, showing gains in Wednesday's session.
Read more »
NZD/JPY Price Analysis: Bulls dictate the market rhythm, hinting at temporary selling pressureThe NZD/JPY pair is currently trading at 91.60, slightly down in Thursday's session.
Read more »