NZD/JPY advances slightly but closes a losing week

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  • NZD/JPY rose nearly 0.10% towards the 89.245 area
  • The cross continues to side-ways trades, slightly tilted to the downside.
  • Bulls seem to be taking a breather after last week’s 3% gains.

The NZD/JPY will close a 0.30% losing week around the 89.245 area, as investors are taking profits from the early month's sharp gains.

Observing the daily chart, the NZD/JPY displays signs of bullish exhaustion after the cross gained more than 3% at the beginning of November. The Relative Strength Index (RSI) has turned flat above its midline, while the Moving Average Convergence (MACD) prints neutral green bars. On the four-hour chart, the indicators have also flattened but are also slightly lilted to the upside, suggesting that buyers are consolidating gains.

Additionally, the cross is above the 20,100,200-day Simple Moving Average (SMA), suggesting that the outlook also favours the bulls in the larger time frames. Furthermore, there could be a bullish confirmation as the 100-day SMA is converging towards the 20-day average to perform a bullish cross, which could reignite the momentum for the buyers in the short term.

 Support levels: 89.000, 88.700, 88.500.

 Resistance levels: 89.5000, 89.850,90.000.

 NZD/JPY Daily Chart

 

NZD/JPY

Overview
Today last price 89.25
Today Daily Change -0.03
Today Daily Change % -0.03
Today daily open 89.28
 
Trends
Daily SMA20 88.18
Daily SMA50 88.09
Daily SMA100 87.75
Daily SMA200 85.93
 
Levels
Previous Daily High 89.86
Previous Daily Low 89.13
Previous Weekly High 89.63
Previous Weekly Low 86.84
Previous Monthly High 89.93
Previous Monthly Low 86.78
Daily Fibonacci 38.2% 89.58
Daily Fibonacci 61.8% 89.41
Daily Pivot Point S1 88.99
Daily Pivot Point S2 88.69
Daily Pivot Point S3 88.25
Daily Pivot Point R1 89.72
Daily Pivot Point R2 90.16
Daily Pivot Point R3 90.46

 

 

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