NZD/JPY Price Analysis: The 200-DMA at risk of being broken hoovers around 78.15

NZD/JPY plummets 120-pips as market participants dump assets that have the “risk” word attached to them.
The market mood dampened on the back of aggressive US stock selling after the Fed released its last meeting minutes.
NZD/JPY Price Forecast: Neutral-bullish, but downside risks remains as the spot approaches the 200-DMA.

Christian Borjon Valencia FXStreet

The New Zealand dollar pares most of its weekly gains and some more as market participants assess the Federal Reserve hawkish minutes released on Wednesday. In the meantime, the NZD/JPY pair slides some 0.74%, trading at 78.15 at the time of writing.

On Thursday’s overnight session, the NZD/JPY plunged from 79.14 to 77.90s on the back of a risk-off market environment, spurred by the sell-off of US stocks after the Federal Reserve released its monetary policy meeting minutes.

NZD/JPY Price Forecast: Technical outlook

The NZD/JPY daily chart shows that the cross-currency pair is neutral- bullish. Even though the 50 and the 100-daily moving averages (DMAs) reside above the spot price, the 200-DMA is below the aforementioned, meaning the uptrend remains in place.

Lately, the 50-DMA is accelerating towards the 100-DMA. In the event of the former crossing under the latter, it would trigger a bearish signal, but caution is warranted, as the overall longer time-frame trend is bullish unless the 200-DMA gives way.

The NZD/JPY first resistance would be the 100-DMA at 78.55, which opens the door for further gains once broken. The next ceiling would be December 30, 2021, daily high at 78.93, followed by the January 4 cycle high of 79.22.

On the flip side, the pair’s first support level would be the 200-DMA at 78.14, which would expose the immediate 78.00 psychological level once broken. The breach of the latter would expose December 8, 2021, the previous resistance-turned-support level at 77.56, followed by the 77.00 figure.

NZD/JPY

Overview
Today last price	78.15
Today Daily Change	-0.74
Today Daily Change %	-0.94
Today daily open	78.89

Trends
Daily SMA20	77.73
Daily SMA50	78.77
Daily SMA100	78.48
Daily SMA200	78.14

Levels
Previous Daily High	79.24
Previous Daily Low	78.79
Previous Weekly High	78.94
Previous Weekly Low	77.84
Previous Monthly High	78.94
Previous Monthly Low	75.97
Daily Fibonacci 38.2%	78.96
Daily Fibonacci 61.8%	79.07
Daily Pivot Point S1	78.71
Daily Pivot Point S2	78.52
Daily Pivot Point S3	78.25
Daily Pivot Point R1	79.16
Daily Pivot Point R2	79.43
Daily Pivot Point R3	79.62

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

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.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

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.