NZD/JPY Price Analysis: Bears maintain control, potential bullish shift on the horizon

The daily chart indicates a supremacy of sellers, as depicted by the RSI's continuation below 50 and a growing MACD negative momentum. Small signs of recovery are evident on the hourly chart. Despite hourly swings favoring the bulls, overall market bias in the NZD/JPY remains bearish. Sellers continue to hold a strong dominance, which dictates a primarily negative technical outlook for the pair. However, the hourly chart reveals signs of buyers coming into play.

The first signs of a positive swing are also noted in the MACD, with green bars suggesting positive momentum building in the short term. NZD/JPY hourly chart In conclusion, despite the slight positive swing observed in the hourly indicators, the overall market bias for the NZD/JPY remains negative as evidenced by the daily chart. The pair below the 20-day Simple Moving Average suggests that the short-term outlook is negative.

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