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27 Aug 2024

NZD/JPY Price Analysis: Bears push slightly down, testing support at 89.70

  • NZD/JPY declined on Tuesday's session to settle around 89.70.
  • The RSI is hovering near the 50 midline, suggesting a neutral bias.
  • The MACD is flat green, indicating a lack of clear momentum.

The NZD/JPY currency pair is facing renewed selling pressure on Tuesday, declining by 0.30% to trade around 89.70. Technical indicators display mixed signals, suggesting that the pair is likely to remain range-bound in the near term.

The Relative Strength Index (RSI) is fluctuating around the 50 midline at 46, indicating that neither buyers nor sellers have a clear advantage. This reading suggests that the pair is likely to continue its sideways movement within the current range. The Moving Average Convergence Divergence (MACD) is also showing a neutral bias, with flat green bars indicating that the bullish momentum is neither gaining nor losing strength.

NZD/JPY daily chart

As the pair seems to be stuck in a consolidation period and with indicators flat, the cross might continue trading in the 88.00-90.00 channel. A break above or below these levels might set the pace for the short term.

 

Aug 27, 2024

USD/JPY Price Forecast: Edges up amid rising US yields, yet remains bearish

The Japanese Yen (JPY) lost ground against the Greenback on Monday as the USD/JPY pair edged up 0.13% amid an uptick in US Treasury bond yields.
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Aug 27, 2024

GBPUSD slips back below 1.32 on thin Monday volumes

GBP/USD trimmed recent gains to kick off the new trading week, slipping back below the 1.3200 handle on Monday and wrapping up a seven-day winning streak that took the pair up over 3% from 1.2800 to a 29-month high of 1.3230.
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