- NZD/JPY mildly rose on Thursday, trading at 89.70.
- The RSI is showing a rising tendency, indicating potential buying pressure, still below 50.
- The MACD continues to print flat green bars, suggesting a neutral trend.
As the NZD/JPY currency pair trades sideways within a neutral consolidation, technical indicators are sending mixed signals. The Relative Strength Index (RSI) points to potential buying pressure, while the Moving Average Convergence Divergence (MACD) indicates a neutral trend.
The RSI, currently at 47, suggests that buying pressure may be building up, hinting at a possible shift in market sentiment. On the other hand, the MACD’s flat green bars show that the upward momentum is not strong enough to trigger a trend reversal.
With the pair consolidating between the 89.50 support and 90.00 resistance levels, a breakout above 90.00 could signal a bullish trend reversal towards 91.00 and 91.50. Conversely, a drop below 89.50 may lead to further declines towards 86.00 and 84.50. Low volume in recent price movements indicates a lack of conviction in the market.