Created
: 2024.09.24
2024.09.24 07:03
The NZD/JPY pair, after logging a 0.30% gain on Monday, retreated slightly and consolidated around the 90.00 level. The bulls remain in control in the near term, with the technical indicators painting a bullish picture. The Relative Strength Index (RSI) is currently at 56, indicating that buying pressure remains elevated and corresponds to a rising RSI slope, suggesting that buying pressure is increasing. The Moving Average Convergence Divergence (MACD) is also bullish, with the histogram rising and green.
Over the past seven sessions, NZD/JPY has traded sideways, fluctuating between the levels of 89.40 and 90.40. This consolidation period has formed three clear round support levels at 87.50, 88.00, and 88.50. Notably, the pair has also established resistance levels at 89.50, 90.00, and 90.50. The recent price action suggests that the bulls are in control, and a breakout above the 90.50 resistance level could lead to further gains in the near term.
Created
: 2024.09.24
Last updated
: 2024.09.24
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy