NZD/JPY rises to fresh highs since early December, consolidation incoming

NZD/JPY pair currently posts minor losses at 90.70.
Daily RSI hovers in the bullish area while the MACD's histogram exhibits signs of slowing buyer momentum.
Indicators in the four-hour chart are decelerating.

Patricio Martín FXStreet

On Thursday's session, the NZD/JPY pair is observed at around 90.70, registering slight losses after hitting high of around 91.00. The daily chart signals a bullish sentiment as bulls are gaining ground, while the four-hour chart presents consolidating indicators, suggesting a potential breather in the NZD/JPY's rally.

An examination of the daily chart reveals a long-term bullish momentum for the cross. The pair is situated above all its key Simple Moving Averages (SMAs) comprising the 20, 100, and 200-day SMAs. Furthermore, the Relative Strength Index (RSI) is exhibiting a stable performance within the positive precincts, while the Moving Average Convergence Divergence (MACD) highlights green bars, albeit in a stationary phase.

Shifting to the shorter time frame, pointers from the four-hour chart narrate a somewhat different tale, with a consolidation phase currently underway. The Relative Strength Index (RSI) remains within positive territory but with a declining trajectory. In unison, the Moving Average Convergence Divergence (MACD) flaunts flat, inviting green bars. These characteristics indicate some level of buying momentum but are constrained as investors seem to be taking profits.

NZD/JPY Levels to watch

NZD/USD

Overview
Today last price	0.6216
Today Daily Change	-0.0006
Today Daily Change %	-0.10
Today daily open	0.6222

Trends
Daily SMA20	0.6268
Daily SMA50	0.6138
Daily SMA100	0.6026
Daily SMA200	0.6092

Levels
Previous Daily High	0.6255
Previous Daily Low	0.6215
Previous Weekly High	0.6339
Previous Weekly Low	0.6181
Previous Monthly High	0.641
Previous Monthly Low	0.6084
Daily Fibonacci 38.2%	0.623
Daily Fibonacci 61.8%	0.624
Daily Pivot Point S1	0.6206
Daily Pivot Point S2	0.6191
Daily Pivot Point S3	0.6166
Daily Pivot Point R1	0.6246
Daily Pivot Point R2	0.6271
Daily Pivot Point R3	0.6286

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.

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