NZD/JPY clears daily gains as bullish momentum wanes

NZD/JPY met resistance at a daily high of around 89.863 and then declined towards 89.245.
Indicators turned flat in positive territory on the daily chart.
The cross is still bullish in the long term as it trades above the 20, 100 and 200-day SMAs.

Patricio Martín FXStreet

The NZD/JPY failed to hold its momentum, which took the cross to a multi-week high of around 89.865 and then closed at around 89.200.

The technical analysis of the daily chart suggests a shift towards a neutral to a bearish outlook for NZD/USD, with indicators flashing signs of bullish exhaustion. The Relative Strength Index (RSI) maintains a flat slope above 50, while the Moving Average Convergence (MACD) presents lower green bars. On the four-hour chart, the bearish momentum is more evident, with the RSI and MACD plunging into the negative zone.

That said, the pair is above the 20,100,200-day Simple Moving Average (SMA), indicating a favourable position for the bulls in the bigger picture. In addition, the 100-day SMA seems to be converging towards the 20-day average to perform a bullish cross in the 88.150-88.300 area, which could reignite the momentum for the buyers in the short term.

Support levels: 89.000, 88.700,88.500.

Resistance levels: 89.500, 89.850, 90.000.

NZD/USD Daily Chart

NZD/JPY

Overview
Today last price	89.26
Today Daily Change	0.06
Today Daily Change %	0.07
Today daily open	89.2

Trends
Daily SMA20	88.15
Daily SMA50	88.04
Daily SMA100	87.74
Daily SMA200	85.9

Levels
Previous Daily High	89.5
Previous Daily Low	89.18
Previous Weekly High	89.63
Previous Weekly Low	86.84
Previous Monthly High	89.93
Previous Monthly Low	86.78
Daily Fibonacci 38.2%	89.3
Daily Fibonacci 61.8%	89.38
Daily Pivot Point S1	89.09
Daily Pivot Point S2	88.97
Daily Pivot Point S3	88.76
Daily Pivot Point R1	89.41
Daily Pivot Point R2	89.62
Daily Pivot Point R3	89.73

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

AUD/USD looks bid; retargets 0.7000

AUD/USD has managed to regain the 0.6900 hurdle and beyond in quite an auspicious start to the new trading week. The pair’s marked recovery has come on the back of the resurgence of the geopolitics-led selling pressure on the Greenback ahead of the release of key US CPI prints on Tuesday.

USD/JPY retreat in sync with USD, appraches 158.00

USD/JPY is back in the red at the start of the week on Monday, eyeing the broad US Dollar retreat amid easing US-Iran tensions. Traders also resorting to profit-taking following the blockbuster US Nonfarm Payrolls data-led rally. US CPI report is next in focus.

Gold keeps the bid tone near $4,100

Gold resumes its recovery on Monday, hovering around the $4,100 region per troy ounce. The precious metal’s solid performance comes amid fresh downside pressure on the US Dollar, rising US Treasury yields and a marked retracement in crude oil prices.

Ethereum Price Forecast: ETH drops to $2,100 as community debates Vitalik Buterin's SoV pitch

Ethereum (ETH) is down 4.6% on Monday as the crypto community debated co-founder Vitalik Buterin's argument that the top altcoin's long-term value should come from its store-of-value (SoV) properties rather than transaction fee burning.

Two Huangs don’t make a right: Nvidia CEO caught in scandal – NVDA slides

Nvidia CEO Jensen Huang sent employees an apology for being unfaithful to his wife, following reports that he may have been targeted in a foreign intelligence operation. Why is Nvidia trading roughly 5–6% below Friday’s close in the overnight market? And – more importantly – does this actually matter to the AI trade?

Gold reclaimed $4,100. Tuesday’s CPI test decides if it holds

Gold (XAU/USD) starts the week on a positive note, reclaiming the $4,100 psychological level as the US Dollar (USD) retreats from its recent highs. The precious metal recovers from Friday's losses, although investors remain cautious ahead of Tuesday's US Consumer Price Index (CPI) report, which could determine the next direction for Bullion.