NZD/JPY extends consolidation, still closes a winning week


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  • NZD/JPY was down by 0.40% on Friday and closed a 0.40% weekly gain.
  • Buyers continue to be on the sidelines after pushing the pair to multi-year highs this week.
  • Indicators are losing momentum on the daily chart.

In Friday's session, the NZD/JPY cross extended its decline towards 89.65 as investors continued to take profits from Tuesday and Wednesday's rally, which took the pair to its highest level since 2015.

The daily Relative Strength Index (RSI) points south, above the 50 middle points, while the Moving Average Convergence Divergence (MACD) prints lower green bars, evidencing the buyers are taking a break. On the four-hour chart, the bearish momentum isn't so present, and the RSI and MACD are starting to edge upwards after being weak during the session. Still, it looks like further consolidation may be incoming for the pair. 

That being said, the cross stands above the 20,100- and 200-day Simple Moving Averages (SMA), indicating that the overall trend currently favours the NZD.

Support levels: 89.25, 89.00, 88.60 (20-day SMA).
Resistance levels: 90.00, 90.30, 91.20.

NZD/JPY Daily chart

NZD/JPY

Overview
Today last price 89.62
Today Daily Change -0.30
Today Daily Change % -0.33
Today daily open 89.92
 
Trends
Daily SMA20 88.65
Daily SMA50 88.41
Daily SMA100 87.84
Daily SMA200 86.1
 
Levels
Previous Daily High 91.2
Previous Daily Low 89.86
Previous Weekly High 89.86
Previous Weekly Low 88.93
Previous Monthly High 89.93
Previous Monthly Low 86.78
Daily Fibonacci 38.2% 90.38
Daily Fibonacci 61.8% 90.69
Daily Pivot Point S1 89.45
Daily Pivot Point S2 88.99
Daily Pivot Point S3 88.11
Daily Pivot Point R1 90.79
Daily Pivot Point R2 91.67
Daily Pivot Point R3 92.14

 

 

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