During Wednesday's session, the NZD/JPY pair experienced a mild setback, dropping below the 97.00 point.
The Kiwi records losses against the Yen but the outlook remains strong. Daily chart indicators display resilience, suggesting a potential continuation of the upward trend. During Wednesday's session, the NZD/JPY pair experienced a mild setback, dropping below the 97.00point. Nonetheless, the 20-day Simple Moving Average at 96.30 demonstrated its resilience once again at the start of the week, effectively staving off the sellers' attempts to breach it.
NZD/JPY daily chart The buyers, in a show of persistence, continue to maintain their positions above the 20-day Simple Moving Average , reinforcing the bullish trend's sustainability. The persistence of the daily technical indicators suggests a determination among market players to bring an end to the consolidation phase and buyers appear to be making a comeback following a short retreat. Upcoming trading sessions may see the pair navigate between support levels at 96.
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