Created
: 2024.09.17
2024.09.17 07:06
Monday's session saw the NZD/JPY pair rise by 0.60% to 87.20. However, the overall technical outlook for the NZD/JPY remains negative due to the losses seen in the last week as sellers seem to be taking a breather.
The RSI is currently at 36, which is still near the oversold area. However, the slope of the RSI is sharply rising, which suggests that buying pressure is recovering. The MACD is also red and flat, indicating that selling pressure is flat. This suggests that last week's downward movements became over-extended and the sellers paused to take a breather. This also gives light to the buyers as the cross might continue consolidating upwards.
Supports to the downside are located at 86.30, 86.60, and 87.00, while resistances are seen at 87.30, 87.60, and 87.90.
Created
: 2024.09.17
Last updated
: 2024.09.17
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