On Monday, the NZD/JPY registered a substantial decline of 0.45% to end at 96.15.
Monday's session saw a further 0.45% decline in the NZD/JPY pair, reinforcing the bearish momentum. The cross extends its losses, marking a four-day bearish streak with a cumulative drop of more than 2.50% since last week. Indicators increasingly burrow into the negative zone, edging dangerously close to oversold conditions. This led the cross to culminate a quadruple daily loss, sparking off from last week. The net plummet has thus far exceeded 2.50%.
The Relative Strength Index , currently at 36, has tanked further and the Moving Average Convergence Divergence concurs with this scenario by demonstrating growing selling activity with the printing of ascending red bars. NZD/JPY daily chart Given the intensified bearish conditions, immediate support levels are found at 96.00 and 95.50. A breach below these levels, especially the potent support at 95.50, would further validate and confirm the bearish perspective.
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NZD/JPY Price Analysis: Cross continues consolidating, still above 97.00On Tuesday, the NZD/JPY cross appeared to have entered a consolidation phase, retaining its footing at the fresh high of 97.80.
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NZD/JPY Price Analysis: Cross continues consolidating, still above 97.00On Tuesday, the NZD/JPY cross appeared to have entered a consolidation phase, retaining its footing at the fresh high of 97.80.
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NZD/JPY Price Analysis: Deeper correction in sight, bullish outlook holdsOn Wednesday, the NZD/JPY cross was seen neutral at 97.70 while extending its phase of consolidation.
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NZD/JPY Price Analysis: Kiwi drops but remains near the 97.00 levelDuring Wednesday's session, the NZD/JPY pair experienced a mild setback, dropping below the 97.00 point.
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