The NZD/JPY currency pair saw a modest gain on Tuesday, reaching 88.15 after recovering from an early dip. Technical indicators, including the RSI and MACD, present conflicting signals, suggesting a cautious outlook for the pair.
The NZD/JPY currency pair edged higher on Tuesday, reaching 88.15 after experiencing early weakness. While the pair showed resilience by recovering from a dip to 87.55, its overall outlook remains uncertain as it struggles to define a clear direction. Technical indicators offer conflicting signals, further complicating the analysis. \ The Relative Strength Index ( RSI ) climbed to 47, indicating a resurgence in momentum.
However, it remained in negative territory, highlighting the cautious nature of the rebound. Conversely, the Moving Average Convergence Divergence (MACD) histogram displayed a pattern of decreasing green bars, suggesting diminishing buying interest and a potential for further downward movement. \ Immediate support for NZD/JPY is located at 87.55. If this level is breached, the pair could face additional losses, potentially dropping towards 87.00. On the upside, resistance is situated at 88.20, coinciding with the 20-day Simple Moving Average (SMA). A sustained break above this level would be required to signal a more confident bullish outlook for the near term
NZDJPY Forex Technical Analysis RSI MACD Support Resistance Bullish Bearish
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