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NZD/JPY advances modestly but closes a week with losses

  • NZD/JPY rose almost 0.10% towards the 89.245 area
  • The cross continues with lateral operations, slightly inclined downwards.
  • The bulls appear to be taking a pause after last week’s 3% gains.

He NZD/JPY will close a week with losses of 0.30% around the 89.245 area, as investors are taking profits from the strong gains at the beginning of the month.

Looking at the daily chart, NZD/JPY is showing signs of bullish exhaustion after the cross gained over 3% in early November. The Relative Strength Index (RSI) has turned flat above its midline, while the Moving Average Convergence (MACD) prints neutral green bars. On the four-hour chart, the indicators have also flattened but are also tilting slightly higher, suggesting that buyers are consolidating gains.

Furthermore, the cross sits above the 20,100,200-day SMA, suggesting that the outlook also favors the bulls on longer timeframes. Furthermore, there could be bullish confirmation as the 100-day SMA is converging towards the 20-day moving average to make a bullish crossover, which could reignite short-term buyers’ momentum.

Support levels: 89,000, 88,700, 88,500.

Resistance levels: 89.5000, 89.850, 90,000.

NZD/JPY Daily Chart

NZD/JPY

Global vision
Latest price today 89.25
Today Daily Change -0.03
Today’s daily variation -0.03
Today’s daily opening 89.28
Trends
daily SMA20 88.18
daily SMA50 88.09
SMA100 daily 87.75
SMA200 daily 85.93
Levels
Previous daily high 89.86
Previous daily low 89.13
Previous weekly high 89.63
Previous weekly low 86.84
Previous Monthly High 89.93
Previous monthly low 86.78
Daily Fibonacci 38.2 89.58
Fibonacci 61.8% daily 89.41
Daily Pivot Point S1 88.99
Daily Pivot Point S2 88.69
Daily Pivot Point S3 88.25
Daily Pivot Point R1 89.72
Daily Pivot Point R2 90.16
Daily Pivot Point R3 90.46

Source: Fx Street

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