NZD/JPY price analysis: Bullish bias prevails as bears run out of steam

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  • The NZD/JPY is currently trading at 91.63, registering gains of 0.32% in Wednesday's session.
  • The daily chart analysis reveals consistent bullish sentiment, with RSI and MACD affirming positive momentum.
  • Hourly indicators also show a dominant bullish bias.

In Wednesday's session, the NZD/JPY was spotted at 91.63, reflecting a 0.32% gain as bears seem to run out of steam after two sessions of losses..

Beginning with the daily chart analysis, the Relative Strength Index (RSI) suggests sustained positive sentiment as it consistently lies within the upbeat territory, without stepping into the overbought space. Simultaneously, the MACD histogram prints green bars and shows a rising trend, reinforcing the positive momentum depicted by the RSI. Moreover, the cross maintains its position above the 20,100,200-day Simple Moving Averages (SMAs), signaling continued control by the bulls in large time frames.

NZD/JPY daily chart

Shifting towards the hourly analysis, the RSI readings fluctuate around the positive zone, while the MACD histogram continues printing green bars but seems to be flattening and falling into the negative domain. This aligns with the picture painted by the daily indicators, further solidifying the perception of a dominant bullish bias but the MACD leaves the door open for further downside.

NZD/JPY hourly chart

NZD/JPY

Overview
Today last price 91.58
Today Daily Change 0.24
Today Daily Change % 0.26
Today daily open 91.34
 
Trends
Daily SMA20 90.46
Daily SMA50 89.95
Daily SMA100 89.54
Daily SMA200 88.21
 
Levels
Previous Daily High 91.59
Previous Daily Low 91.04
Previous Weekly High 91.86
Previous Weekly Low 89.77
Previous Monthly High 90.99
Previous Monthly Low 88.64
Daily Fibonacci 38.2% 91.25
Daily Fibonacci 61.8% 91.38
Daily Pivot Point S1 91.06
Daily Pivot Point S2 90.78
Daily Pivot Point S3 90.52
Daily Pivot Point R1 91.6
Daily Pivot Point R2 91.87
Daily Pivot Point R3 92.15

 

 

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