- The NZD/JPY pair rose slightly on Friday, reaching 88.90 and maintaining its recent growth momentum.
- The MACD bars remain green but have flattened, signaling cautious optimism amid continued downside risks.
- RSI rises to 51, entering positive territory as buyers return tentatively.
The NZD/JPY currency pair added a modest 0.20% on Friday, climbing to 88.90 and building on gains seen since the pair broke above the 20-day straightforward moving average (SMA). The move follows a significant loss of position following a breakout from the sideways range between 90.00 and 92.00, highlighting the pair’s continued efforts to regain balance.
Under the hood, the Relative Strength Index (RSI) has moved to 51, sitting just inside the positive zone and indicating a subtle boost in buying interest. Meanwhile, the moving average convergence divergence (MACD) histogram remains above zero but has flattened, suggesting that bullish momentum may need further momentum to gain traction.
Looking ahead, a mighty close above the 20-day SMA could lend a hand solidify the recovery, potentially pushing resistance points towards 90.00. However, if the pair breaks below this moving average, the NZD/JPY pair may once again be susceptible to renewed selling pressure.
