- Friday’s trading session brought continued declines on the NZD/JPY pair, which deepened the downward dynamics.
- Cross ends the week with a loss of nearly 2%.
- Sellers point to the 100-day moving average.
In Friday’s trading session, the NZD/JPY pair continued its losses and fell to 94.65, down 0.50%. Although it saw a compact bounce on Thursday, the pair ended the week with losses of around 2%, underlining the still negative outlook.
Daily technical indicators are strengthening bearish control, regardless of the brief bounce on Thursday. The Relative Strength Index (RSI) approached oversold territory, while the Moving Average Convergence Divergence (MACD) indicator continued to print rising red bars, suggesting the presence of sustained selling pressure. However, an RSI below 30 could suggest an upcoming bullish correction.
NZD/JPY Daily Chart
In line with the established bearish sentiment, immediate support levels are now lower at 94.50 and at the 100-day basic moving average (SMA) 94.00. A break below these levels could justify a short-term bearish advantage. Resistance levels hold at the previous support markers 95.00, 95.50 and 96.00, which could be significant thresholds for possible upside moves.
