- NZD/JPY has been trading sideways recently, with mixed signals from technical indicators.
- The pair is currently supported at 90.70 and faces resistance at 91.90.
- There are some signs of bearish momentum that could threaten the 20-day SMA.
Friday’s trading saw the NZD/JPY pair continue its sideways movement of past sessions. The pair exhibits a range-bound pattern with no significant spikes up or down. At the end of the week, the cross rose slightly to 91.20, but the outlook remains neutral.
Technical indicators provide mixed signals on the future direction of NZD/JPY. The Relative Strength Index (RSI) stands at 53, indicating positive territory for the pair. The upward slope of the RSI suggests continued buying pressure. However, the MACD is showing signs of increasing selling pressure, with increasing red bars on the histogram.
Support levels lie at 91.00 (20-day SMA), 90.70, and 90.50. On the contrary, resistance levels are found at 91.30, 91.50 and 91.70. These levels define the range within which the NZD/JPY has been trading recently.
NZD/JPY daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
