- On Friday, the NZD/JPY pair fell 0.27%, trading near the 90.30 level.
- The pair has a 3-day losing streak and it seems that the 90.00-92.00 range is heading lower.
- The RSI and MACD are falling, signaling the potential for further declines towards 90.00.
The NZD/JPY pair has been on a downward trajectory over the past three days, losing 0.27% during Friday’s session to close near the 90.30 level. This losing streak has apparently broken the 90.00-92.00 range and further losses are possible.
The bearish outlook is supported by the Moving Average Convergence Divergence (MACD), which indicates a sell signal, and the Relative Strength Index (RSI), which is below 50 and falling, signaling increasing selling pressure.
The three-day decline in the NZD/JPY pair could break the 90.00-92.00 range, and the outlook could deteriorate if the pair continues to lose towards 90.00. Key resistance levels are located at 90.50 and 90.60, while support can be expected at 89.90 and 89.70
