NZD/JPY extends consolidation, still closes a winning week

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

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.