On Thursday, the NZD/JPY cross made further gains, moving past the previous resistance at 97.00 and setting a fresh cycle high.
The cross resumed its gains, establishing new cycle highs at levels exceeding 97.00. The daily chart continues to display resilience,increasing chances for the upward trend to persist. At the start of the week, support around the 20-day Simple Moving Average at 96.30 held strong as buyers swiftly stepped in to overpower the sellers' efforts to breach this level.
30 mark fuelled the buyers' momentum, which paved the way for the climb to fresh highs. Going forward, the trading sessions may witness the cross oscillate between the immediate support at 97.00 and the resistance target of 98.00. Close monitoring of the breach above the current consolidation range or a dip below the 20-SMA mark could potentially provide insights into future movements. NZD/JPY Overview Today last price 97.25 Today Daily Change 0.33 Today Daily Change % 0.
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NZD/JPY Price Analysis: Bears gain ground, cross treads closely to the 20-day SMAOn Tuesday, the NZD/JPY pair encountered sustained selling pressure as the Japanese Yen powered upwards against its rivals.
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NZD/JPY Price Analysis: Kiwi gains ground and test the 97.00 levelIn Tuesday's session, the NZD/JPY pair saw promising upticks, edging closer to the 97.00 resistance point after a strong defense of the 20-day Simple Moving Average (SMA) at 96.30, which has proven to be resilient against sellers' attempts.
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