The NZD/JPY pair has seen a mild rise to 89.30, testing the 20-day SMA which could signal a potential bullish outlook. The RSI is hovering near 50, while the MACD shows flat green bars indicating sideways momentum.
In Friday’s session, the pair gained ground after a week of sideways movements, hinting at a possible change in trend. The RSI near 50 suggests neutral territory, but a move above this level could shift market sentiment. The MACD’s positive divergence with the RSI indicates buying pressure overcoming selling pressure, potentially leading to upside movements in the near future.
Currently challenging the 20-day SMA after bouncing off support at 88.50, the pair could face resistance at 0.8970 and 0.9000 on the upside, with support at 0.8900, 0.8880, and 0.8840 on the downside. A break above 0.8970 could signal a continuation of the uptrend, while a break below 0.8840 could indicate a downtrend. Declining volume in recent sessions points towards market neutrality.