NZD/JPY Price Analysis: Modest recovery holds as bulls eye resistance ahead of Asian session

• NZDJPY trades near the 90.50 zone following a modest bounce in Thursday's session.
• Bullish momentum remains fragile as indicators deliver mixed short-term signals.

The NZDJPY pair was seen trading near the 90.50 area on Thursday, stabilizing after mild intraday gains. The pair is attempting to consolidate above key short-term levels, as investors weigh broad risk sentiment and upcoming Asian market flows. Price action remains within the day's range, hinting at indecision despite the mild upside.

From a technical standpoint, the pair is showing a cautiously bullish signal. While the Relative Strength Index is hovering in neutral territory, the MACD shows early signs of positive momentum. Other indicators, such as the Stochastic oscillator and Commodity Channel Index, remain neutral, underlining the pair's lack of strong directional conviction.

However, short-term moving averages are beginning to turn favorable. The 10-day EMA and SMA are showing early signs of a shift, while the longer-term 20, 100, and 200-day SMAs remain tilted lower, reflecting the broader bearish structure. If momentum builds, a test of the resistance cluster near the 90.70-90.90 area may be on the cards.

Key support levels rest at 90.10, followed by 89.80. To the upside, resistance is located at 90.70, 90.90, and further out at 91.20.