The NZD/JPY pair rebounded slightly in Wednesday's following session to settle around 90.20.
NZD/JPY rose to 90.20 in Wednesday's session. The RSI is rising within neutral terrain, indicating increasing buying pressure. The MACD is flat green, suggesting that the buyer’s tractionremains weak. The NZD/JPY pair rebounded slightly in Wednesday's following session to settle around 90.20. Technical indicators are hinting that the pair might be approaching a bullish breakout in the short term as buyers seem to be waiting for a catalyst to test the 90.50 area.
The Relative Strength Index is rising towards neutral terrain, currently at 49, indicating that buying pressure is increasing. This reading suggests that the pair is likely to continue its upward movement and challenge the resistance at 90.50. 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.
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