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NZD/JPY gained ground on Friday’s session, mildly to 89.95. The RSI holds near neutral territory, indicating a balance between buying and selling forces. The MACD shows flat green bars, suggesting that momentum is stabilizing. The NZD/JPY currency pair is consolidating sideways within a familiar range below 90.00. Technical indicators display mixed signals, with the Relative Strength Index (RSI) hinting at neutral sentiment and the Moving Average Convergence Divergence (MACD) showcasing a stabilizing momentum. The RSI, reflecting the momentum of price changes, currently sits just below 50. This reading suggests that neither buyers nor sellers have a clear advantage in the market, resulting in a balanced sentiment. Meanwhile, the MACD, a trend-following indicator, is showing flat green bars, indicating that the bullish momentum is neither gaining nor losing strength. The pair has been hovering within a trading range defined by the 89.00 support and 90.20 resistance levels. Volume has been relatively low, indicating a lack of decisive buying or selling pressure. A break above 90.20 could signal a potential bullish continuation, opening the way towards 90.50 and 91.00. Conversely, a break below 89.00 could trigger a bearish move towards 88.50 and 88.00. NZD/JPY daily chart     Source: https://www.fxstreet.com/news/nzd-jpy-price-analysis-sideways-consolidation-persists-bears-to-stay-cautious-202408232211

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Filed under: News - @ August 24, 2024 6:22 pm