NZD/JPY Price Analysis: Bears maintain control, pushes cross below the 100-day SMA

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 while the selling momentum seems to have flattened on the hourly time frame.

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 , indicating bearishness. Yet, its position above the 200-day SMA adds a hint of bullish potential.

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