NZD/JPY surges to multi-year highs around 91.35, bulls take control

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  • NZD/JPY rallied more than 0.70%  to hit 91.38, its highest since April 2015.
  • Daily RSI and MACD show good upward momentum, hinting at increasing buying pressure.
  • Indicators near overbought conditions in the four-hour chart.

In Thursday's session, the NZD/JPY initiated a bullish move, touching a peak of 91.38, it highest since April 2015. This positive momentum echoed in the daily and four-hour charts and signals that bulls are in command over the bears while steering the pair into overbought conditions. The overall scenario suggests a continuing bullish bias for the short-term.

In line with that, the positive slope of the daily Relative Strength Index (RSI), positioned in positive territory pointing north, signifies a potent bullish dominance. Simultaneously, the Moving Average Convergence Divergence (MACD) corresponds to rising green bars, contributing to the buying dominance. Moreover, on a broader scale, the pair is above its three key Simple Moving Averages (SMAs). Its position over the 20, 100, and 200-day SMAs provides additional confirmation that the bulls are firmly in control.

Switching to the shorter-term chart, the four-hour metrics reiterate the dominance of the bullish scenario. The uptrend in the Relative Strength Index (RSI) on the four-hour chart, remaining in positive territory, cements the assertion of bullish control. Furthermore, the rising green bars of the four-hour Moving Average Convergence Divergence (MACD) embody an increasing bullish sentiment in the short term. 


Support Levels: 89.85 (20-day SMA), 89.30, 89.00.
Resistance Levels: 91.38, 91.50, 91.70.


NZD/JPY daily chart

 

NZD/JPY

Overview
Today last price 91.19
Today Daily Change 0.61
Today Daily Change % 0.67
Today daily open 90.58
 
Trends
Daily SMA20 89.87
Daily SMA50 88.94
Daily SMA100 88
Daily SMA200 86.38
 
Levels
Previous Daily High 91.22
Previous Daily Low 90.23
Previous Weekly High 91.03
Previous Weekly Low 89.19
Previous Monthly High 89.93
Previous Monthly Low 86.78
Daily Fibonacci 38.2% 90.84
Daily Fibonacci 61.8% 90.61
Daily Pivot Point S1 90.13
Daily Pivot Point S2 89.69
Daily Pivot Point S3 89.15
Daily Pivot Point R1 91.12
Daily Pivot Point R2 91.66
Daily Pivot Point R3 92.11

 

 

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