- NZD/JPY fell 0.94% on Tuesday to trade near 89.20.
- The pair has racked up a four-day losing streak, now at its lowest since September 20.
- Technical indicators are signaling continued weakness for the pair, suggesting potential additional losses.
The NZD/JPY pair continued its downward trajectory on Tuesday, falling 0.94% to trade near 89.20. This marked the fourth consecutive day of losses for the pair, taking it to its lowest level since September 20.
The bearish trend of the pair was even more evident in the oversold Relative Strength Index (RSI) and the MACD histogram, both corroborating the bearish outlook. This is reinforced by the fact that the cross has broken out of the sideways trading pattern seen since late September, so the pair could see further weakness. On the positive side, there could be an upward correction as sellers could take a pause after the losing streak, but the overall outlook remains negative.
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.
