The NZD/JPY currency pair experienced a significant decline on Monday, falling below its 20-day Simple Moving Average (SMA). Traders are grappling with persistent bearish sentiment and a lack of clear directional momentum. Technical indicators suggest further downside risks.
NZD/JPY drops on Monday, settling at 87.95 as selling pressure intensifies. Momentum indicators remain subdued, reflecting persistent bearish sentiment . Key support levels are in focus as the pair approaches critical technical thresholds. The NZD/JPY pair saw a steep decline on Monday, falling 1% to landat 87.95dropping below its 20-day Simple Moving Average . This move extends the bearish trajectory observed in recent sessions, with the pair breaking below near-term support levels.
The Relative Strength Index has dropped sharply to 45, remaining in negative territory and signaling continued downward momentum. Meanwhile, the Moving Average Convergence Divergence histogram remains flat with green bars, pointing to a lack of directional clarity and suggesting that bearish momentum has yet to fully abate. Traders will closely monitor critical levels for the next directional move. Immediate support is seen at 87.50, with a break below this potentially opening the door to 87.00.
NZDJPY Currency Pair Bearish Sentiment Selling Pressure Technical Analysis
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