- NZD/JPY is negotiated above the Ichimoku cloud, pointing out an upward trend, but the impulse is still undecided.
- RSI stagnant in 50; Alcistas need to break over 86.00 to aim at 87.73 and the maximum of the year to date at 89.71.
- The inability to maintain 84.61 can trigger a fall to Kumo’s key support near the area of ​​83.50–83.75.
NZD/JPY extended his rally for the third consecutive day on Tuesday, rising a slight 0.17%, but failed to overcome the key resistance seen in the Kijun-sen at 85.92 to challenge the figure of 86.00. At the beginning of Wednesday’s Asian session, the pair is negotiated at 85.81, practically unchanged.
NZD/JPY Price Forecast: Technical Perspective
The pair continued to consolidate from a technical perspective, despite the fact that the prices in the cash of NZD/JPY are clearly above the Ichimoku cloud (Kumo), an indication of bullish trend. However, the inability to overcome the obstacle of 86.00 keeps sellers hopeful to drag down prices.
The impulse suggests that neither buyers nor sellers are in charge, with the relative force index (RSI) remaining in the neutral line of 50.
If the bulls wish to recover control, they need a break above the Tenkan-SEN and the level of 86.00 could feed the upward impulse, allowing buyers to point to the maximum of May 13 in 87.73. A decisive movement beyond that would expose the peak of the year to date at 89.71.
On the other hand, a fall below the minimum of May 22 in 84.61 would indicate weakness. If confirmed, the torque could fall towards the top of the Kumo cloud, located between 83.50 and 83.75.
NZD/JPY Price Graph – Diario
New Zealander dollar this week
The lower table shows the gear dollar change percentage (NZD) compared to the main currencies this week. New Zealand dollar was the strongest currency against the Japanese yen.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.29% | 0.13% | 1.23% | 0.54% | 0.68% | 0.63% | 0.75% | |
| EUR | -0.29% | -0.16% | 0.98% | 0.25% | 0.39% | 0.34% | 0.47% | |
| GBP | -0.13% | 0.16% | 0.80% | 0.41% | 0.55% | 0.50% | 0.64% | |
| JPY | -1.23% | -0.98% | -0.80% | -0.67% | -0.55% | -0.66% | -0.44% | |
| CAD | -0.54% | -0.25% | -0.41% | 0.67% | 0.15% | 0.09% | 0.23% | |
| Aud | -0.68% | -0.39% | -0.55% | 0.55% | -0.15% | -0.09% | 0.09% | |
| NZD | -0.63% | -0.34% | -0.50% | 0.66% | -0.09% | 0.09% | 0.14% | |
| CHF | -0.75% | -0.47% | -0.64% | 0.44% | -0.23% | -0.09% | -0.14% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the New Zealand dollar of the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the NZD (base)/USD (quotation).
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.
