The NZD/JPY currency pair saw a slight decrease in Tuesday’s session, settling at 89.40. Despite this, the pair has been trading sideways within a range of 87.50 to 90.50. Technical indicators like the RSI and MACD are showing mixed signals, with the RSI hovering around 42, indicating a potential bearish trend.
The MACD, on the other hand, is displaying flat green bars, suggesting a lack of clear momentum. If the green bars turn red, it could signal a stronger bearish reversal. Additionally, low volume in recent price movements suggests a lack of conviction in the market.
Traders should keep an eye on key levels – a break below 87.50 could lead to further declines towards 86.00, while a break above 90.50 could push the pair towards 92.00. Stay tuned for more updates on NZD/JPY as the market continues to unfold.
