Breaking Down the NZD/JPY Pair’s Recent Performance
NZD/JPY Pair’s Recent Decline
- NZD/JPY fell 0.27% on Friday, trading near the 90.30 level.
- The pair has tallied a 3-day losing streak and appears to be breaking out of the 90.00-92.00 range to the downside.
- Both RSI and MACD indicators are bearish, signaling the potential for further losses towards the 90.00 level.
The NZD/JPY pair has been on a downward trajectory for the past three days, with Friday’s session seeing a 0.27% decline, closing near the 90.30 level. This recent losing streak has broken the previously held range of 90.00-92.00, hinting at possible further losses in the near future.
The bearish sentiment is supported by the MACD, which is giving a sell signal, and the RSI, indicating selling pressure with its value below 50 and on a decline.
If the NZD/JPY pair continues its three-day decline and moves towards the 90.00 level, the outlook could worsen. Key resistance levels to watch for are at 90.50 and 90.60, while support can be expected at 89.90 and 89.70.
Analyzing the NZD/JPY Daily Chart
Analysis of the NZD/JPY Pair’s Performance
The recent decline of the NZD/JPY pair, coupled with bearish signals from the MACD and RSI indicators, suggests a potential continuation of the downward trend. Traders and investors should closely monitor key support and resistance levels to assess the pair’s future movements.
For those looking to trade or invest in the NZD/JPY pair, it is essential to consider the technical indicators and market sentiment to make informed decisions. Keeping an eye on key levels and staying updated on market news and events can help navigate the volatility of the forex market.
Overall, the NZD/JPY pair’s recent performance highlights the importance of staying informed and utilizing technical analysis tools to make sound financial decisions in the ever-changing world of forex trading.