NZD/JPY Price Analysis: Pair resumes downward trajectory, reaches lows since September
Source Fxstreet
- NZD/JPY fell 0.94% on Tuesday to trade near 89.20.
- The pair has tallied a four-day losing streak, now at lows since September 20.
- Technical indicators are signaling continued weakness for the pair, suggesting potential for further losses.
The NZD/JPY pair continued its downward trajectory on Tuesday, falling 0.94% to trade near 89.20. This marked the fourth consecutive day of losses for the pair, bringing it to its lowest level since September 20.
The pair's downtrend was further evident in the oversold the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) histogram, both of which corroborated the bearish outlook. This is reinforced by the fact that the cross has broken out of the sideways trade pattern seen since late September, so the pair may see further weakness. On the bright side, there may be an upwards correction as sellers may take a breather after the losing streak, but the overall outlook remains negative.
NZD/JPY daily chart
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Ethereum fell below $3,000 after failing at $3,200, with resistance at $3,020 and key support at $2,880; a break lower could target $2,800 and $2,750, while a rebound needs $3,120–$3,150.
Gold (XAU/USD) is seen extending the previous day's modest pullback from the vicinity of the $4,900 mark, or a fresh all-time peak, and drifting lower through the Asian session on Thursday.
Bitcoin Slides Into Weekly Close as Bulls Confront $86K Price TestBitcoin has started to lose momentum as U.S. futures prepare for opening, with markets bracing for anticipated volatility catalysts. The cryptocurrency witnessed multi-day lows leading up to the end of the week, as investors face a looming period of macroeconomic uncertainty.
Bitcoin has started to lose momentum as U.S. futures prepare for opening, with markets bracing for anticipated volatility catalysts. The cryptocurrency witnessed multi-day lows leading up to the end of the week, as investors face a looming period of macroeconomic uncertainty.
Cardano trades near $0.34 after three weeks of declines, with Binance futures open interest down to $108.55M and bearish RSI/MACD signals keeping risks tilted toward $0.32 and potentially $0.27.
Santiment says XRP and Ethereum sit in a 30-day MVRV “undervalued” zone, with XRP at -5.7% and ETH at -7.6%, while Bitcoin is listed at 3.7% and XRP has rebounded above $1.9 after dipping to $1.8 on Sunday.
Related Instrument
