NZD/JPY Price Analysis: Bears gains ground with eyes on 20-day SMA

Share:
  • The NZD/JPY saw a minor decline to 90.35 and eyes the 20-day SMA at 89.90.
  • Daily chart indicators reveal that sellers have a slight upper hand in the short term.
  • Despite bearish indicators, the overall trend is still bullish.

In Monday's session, NZD/JPY experienced a slight drop to 90.35 following losses from its daily high at 90.55. With the daily chart establishing a neutral to bullish prospect, the bears are nevertheless gaining ground as the buyer's momentum remains weak. The four-hour chart indicators also remain in the red zone.

Given the current positioning within the daily time frame, the indicators reflect that the buying momentum is dominant when considering the overall trend indicated by the pair's positioning above the 20, 100, and 200-day Simple Moving Averages (SMAs). However, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) show that the momentum in the short term is waning and that bears are gaining traction.

While the broader picture carries an overall upward bias, the short-form charts tell a different story. Considering the four-hour chart, the selling pressure is gaining some ground progressively. With indicators situated within the negative terrain, the four-hour RSI is trending down while the four-hour MACD prints red bars, further reinforcing the short-term downward bias. The change in momentum on the shorter-term charts might be an early sign that the bulls are losing strength, allowing the bears to slowly take over.

NZD/JPY technical levels

NZD/JPY

Overview
Today last price 90.37
Today Daily Change -0.09
Today Daily Change % -0.10
Today daily open 90.46
 
Trends
Daily SMA20 89.78
Daily SMA50 89.8
Daily SMA100 88.85
Daily SMA200 87.45
 
Levels
Previous Daily High 90.82
Previous Daily Low 90.37
Previous Weekly High 90.99
Previous Weekly Low 89.69
Previous Monthly High 91.52
Previous Monthly Low 87.69
Daily Fibonacci 38.2% 90.54
Daily Fibonacci 61.8% 90.65
Daily Pivot Point S1 90.28
Daily Pivot Point S2 90.1
Daily Pivot Point S3 89.83
Daily Pivot Point R1 90.73
Daily Pivot Point R2 91
Daily Pivot Point R3 91.18

 

NZD/JPY daily chart

Share: Feed news