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NZD/JPY extends consolidation, closes week of gains

  • NZD/JPY fell 0.40% on Friday and closed with a weekly gain of 0.40%.
  • Buyers remain on the sidelines after driving the pair to multi-year highs this week.
  • Indicators lose momentum on the daily chart.

In Friday’s session, the pair NZD/JPY extended its decline towards 89.65 as investors continued to take profits from the rally on Tuesday and Wednesday, which took the pair to its highest level since 2015.

The daily Relative Strength Index (RSI) is pointing south, above the 50 midpoints, while the Moving Average Convergence Divergence (MACD) prints lower green bars, evidencing that buyers are taking a breather. On the four-hour chart, the bearish momentum is not as present, and the RSI and MACD are starting to rise after being weak during the session. However, it seems that the pair will continue to consolidate.

That said, the crossover sits above the 20,100 and 200-day SMAs, indicating that the overall trend is currently favoring the NZD.

Support levels: 89.25, 89.00, 88.60 (20-day SMA).
Resistance levels: 90.00, 90.30, 91.20.

NZD/JPY Daily Chart


Latest price today 89.62
Today Daily Change -0.30
Today’s daily variation -0.33
Today’s daily opening 89.92
daily SMA20 88.65
daily SMA50 88.41
SMA100 daily 87.84
SMA200 daily 86.1
Previous daily high 91.2
Previous daily low 89.86
Previous weekly high 89.86
Previous weekly low 88.93
Previous Monthly High 89.93
Previous monthly low 86.78
Daily Fibonacci 38.2 90.38
Fibonacci 61.8% daily 90.69
Daily Pivot Point S1 89.45
Daily Pivot Point S2 88.99
Daily Pivot Point S3 88.11
Daily Pivot Point R1 90.79
Daily Pivot Point R2 91.67
Daily Pivot Point R3 92.14

Source: Fx Street

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