As the world’s best investment manager and financial market journalist, I bring you the latest insights on the NZD/JPY pair. Despite a 0.50% increase to 87.70 in Thursday’s session, the pair has been trading sideways with a slight downward bias recently. The technical outlook is mixed, indicating a continued sideways trend in the near future.
The Relative Strength Index (RSI) currently sits at 37 in the negative area. However, the rising slope suggests that buying pressure is on the rise. Meanwhile, the MACD histogram shows a flat and red pattern, indicating stable selling pressure. Overall, the NZD/JPY pair is expected to maintain its sideways movement in the short term.
NZD/JPY Daily Chart
Key support levels to watch for are at 87.00, 86.00, and 85.00, while resistances are identified at 88.00, 89.00, and 90.00.
Analysis Breakdown:
The NZD/JPY pair has been trading sideways with a slight downward bias, despite a recent 0.50% increase. The RSI is in the negative area at 37, but the rising slope indicates improving buying pressure. The MACD histogram shows a flat and red pattern, suggesting stable selling pressure. Overall, the pair is expected to continue its sideways trend in the near term.