The NZD/JPY currency pair is facing renewed selling pressure on Tuesday, declining by 0.30% to trade around 89.70.
NZD/JPY declined on Tuesday's session to settle around 89.70. The RSI is hovering near the 50 midline, suggesting a neutral bias. The MACD is flat green, indicating a lack of clear momentum. Technical indicators display mixed signals, suggesting that the pair is likely to remain range-bound in the near term. The Relative Strength Index is fluctuating around the 50 midline at 46, indicating that neither buyers nor sellers have a clear advantage.
This reading suggests that the pair is likely to continue its sideways movement within the current range. The Moving Average Convergence Divergence is also showing a neutral bias, with flat green bars indicating that the bullish momentum is neither gaining nor losing strength. NZD/JPY daily chart As the pair seems to be stuck in a consolidation period and with indicators flat, the cross might continue trading in the 88.00-90.00 channel.
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