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
The silver market is witnessing an unprecedented "price surge." As futures prices recorded their largest single-day gain in nearly 40 years, retail investors flocked in, with a frenzy eve
Bitcoin struggles with precarious positioning amidst macroeconomic volatility, closing the week below key support and setting the stage for potential further declines.
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.
Gold Price Forecast: XAU/USD gains momentum to near $5,050 amid geopolitical risks, Fed uncertaintyGold price (XAU/USD) extends its upside to around $5,050 during the early Asian session on Tuesday. The precious metal gains momentum amid growing concerns about financial and geopolitical uncertainty. The US ADP Employment Change and Consumer Confidence reports will be published later on Tuesday.
Gold price (XAU/USD) extends its upside to around $5,050 during the early Asian session on Tuesday. The precious metal gains momentum amid growing concerns about financial and geopolitical uncertainty. The US ADP Employment Change and Consumer Confidence reports will be published later on Tuesday.
Last week, U.S. stocks experienced volatility triggered by Donald Trump's remarks on imposing tariffs on Europe. The Dow fell 0.53% for the week, the S&P 500 slipped 0.35%, and the Nasdaq
Related Instrument
