NZD/JPY Price Analysis: Bears maintain control, potential bullish shift on the horizon

The daily chart indicates a supremacy of sellers, as depicted by the RSI's continuation below 50 and a growing MACD negative momentum.
Small signs of recovery are evident on the hourly chart.
Despite hourly swings favoring the bulls, overall market bias in the NZD/JPY remains bearish.

Patricio Martín FXStreet

The NZD/JPY is currently trading at 90.61, reflecting a slight decrease at the start of the week. Sellers continue to hold a strong dominance, which dictates a primarily negative technical outlook for the pair. However, the hourly chart reveals signs of buyers coming into play.

On the daily chart of the NZD/JPY pair, the Relative Strength Index (RSI) shows a positioning in negative territory. The consecutive decline of RSI from levels above 50 to 36 suggests that sellers currently command the market. In addition, the daily Moving Average Convergence Divergence (MACD) features rising red bars, indicating an increase in negative momentum, which further supports the sellers' dominance.

NZD/JPY daily chart

Contrarily, on the hourly chart, the RSI of the NZD/JPY shows a slight recovery near its middle point, with the latest reading being around 42. However, this minor upturn does not challenge the overall negative bias. The first signs of a positive swing are also noted in the MACD, with green bars suggesting positive momentum building in the short term.

NZD/JPY hourly chart

In conclusion, despite the slight positive swing observed in the hourly indicators, the overall market bias for the NZD/JPY remains negative as evidenced by the daily chart. The pair below the 20-day Simple Moving Average (SMA) suggests that the short-term outlook is negative. However, the positive divergence between the MACD and RSI on the hourly chart may imply a forthcoming bullish reversal, subject to further confirmation.

NZD/JPY

Overview
Today last price	90.61
Today Daily Change	-0.20
Today Daily Change %	-0.22
Today daily open	90.81

Trends
Daily SMA20	91.97
Daily SMA50	90.92
Daily SMA100	90.15
Daily SMA200	88.82

Levels
Previous Daily High	91.43
Previous Daily Low	90.72
Previous Weekly High	91.83
Previous Weekly Low	90.72
Previous Monthly High	93.45
Previous Monthly Low	89.26
Daily Fibonacci 38.2%	90.99
Daily Fibonacci 61.8%	91.16
Daily Pivot Point S1	90.54
Daily Pivot Point S2	90.28
Daily Pivot Point S3	89.84
Daily Pivot Point R1	91.25
Daily Pivot Point R2	91.69
Daily Pivot Point R3	91.95

Author

Patricio Martín

FXStreet

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

AUD/USD holds steady above 0.7100 after weak Australian PMIs

AUD/USD remains range-bound around 0.7100 in the Asian session on Wednesday after Australia's flash PMIs showed manufacturing slipped into contraction and services expanding slowly for a second straight month. Furthermore, a bullish US Dollar acts as a headwind for the pair as traders keenly await the crucial Trump-Xi summit on Thursday. Meanwhile, markets shrugs off US-Iran indirect talks.

USD/JPY stands firm near mid-157.00s, close to two-week high

USD/JPY hovers around mid-157.00s in the Asian session on Wednesday, near two-week highs touched last Friday as the BoJ's dovish rate hike continues to undermine the Japanese Yen. Meanwhile, the US Dollar remains firm amid the Fed's hawkish stance, adding support to the pair, though JPY intervention fears cap further gains. Markets pay little heed to the completion of the round of US-Iran indirect talks ahead of Trump-Xi meeting.

Gold struggles near $4,350 as USD strength offsets softer bond yields

Gold struggles to build on the overnight bounce from sub-$4,300 levels and remains defensive in Wednesday's Asian session. The US Dollar sits near its July 30 high amid the Fed's hawkish stance and geopolitical risks, capping the bullion. Meanwhile, the recent decline in Oil prices eases inflation fears, keeping US bond yields depressed and limiting the downside in non-yielding yellow metal.

Ethereum holds above $2,700 as investors continue bullish positioning

Ethereum (ETH) held above $2,700 on Tuesday after starting the week on a positive note. The top crypto stretched its 7-day gains to 14% after energy prices and the US 10-year Treasury yields dipped on Monday.

AI capex enters the Fed's inflation case with October hike pricing past even money

AI capex enters the Fed's inflation case with October hike pricing past even money; UK headroom halved and French CDS at post-2020 wides before either budget lands; Pezeshkian in New York with a Gulf slot scheduled and no Iranian bilateral. Monday priced the same AI buildout at two completely different costs of capital.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.