NZD/JPY Price Analysis: Cross consolidates near 88.00

NZD/JPY moves sideways after a three-day winning streak, and mixed technical signals emerge.
The RSI remains near the oversold area despite rising, and the MACD prints decreasing red bars.
Shrinking volume suggests that the selling pressure is waning, indicating a potential reversal.

Patricio Martín FXStreet

The NZD/JPY currency pair remained in a consolidation pattern on Friday, hovering around the 88.000 level. While the pair has experienced a three-day winning streak, technical indicators present contrasting signals, and the pair is set to side-ways trade.

From a technical standpoint, the Relative Strength Index (RSI) indicator is currently at 30, indicating that the pair is still in the oversold area. This suggests that there could be further room for recovery. The Moving Average Convergence Divergence (MACD) indicator, on the other hand, is showing decreasing red bars, which could signal a stagnation of the selling pressure. Trading volume has decreased in recent sessions, which could indicate that selling pressure is easing. This is a positive sign for the bulls, as it suggests that they may be gaining some momentum.

The bulls are attempting to push the pair higher towards the 88.50 resistance level and if they succeed in breaking above this level, it could open the door to further gains toward the 89.00 area. However, if the bears regain control and push the pair below the 88.00 level, it could lead to a deeper correction towards the 87.50-87.00 support zone.

NZD/JPY Daily chart

Author

Patricio Martín

FXStreet

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

EUR/USD stays in tight channel near 1.1800

EUR/USD moves sideways in a narrow band at around 1.1800 in the second half of the day on Friday as investors refrain from taking large positions. February inflation data from Germany and January Producer Price Index figures from the US could drive the pair's action heading into the weekend.

GBP/USD struggles below 1.3500 amid UK political drama, BoE easing bias

GBP/USD struggles to build on the overnight modest bounce from the weekly low and oscillates in a narrow band below 1.3500 on Friday. The Gorton and Denton by-election, held on February 26, has become a focal point of political drama in the UK, along with the BoE easing expectations, acting as a headwind for the GBP.

Gold flat lines below $5,200; traders look to US PPI for fresh impetus

Gold struggles to capitalize on its modest gains registered over the past two days and trades below the $5,200 mark through the first half of the European session on Friday. Geopolitical risks remain in play amid a large US naval and air power buildup in the Middle East.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.