The NZD/JPY currency pair is currently trading within a neutral consolidation range. Technical indicators present mixed signals, with the RSI suggesting potential buying pressure and the MACD indicating a lack of strong upward momentum.
The pair’s consolidation is likely due to a combination of factors, including profit-taking after recent gains and uncertainty regarding the global economic outlook.
Technical Outlook
The NZD/JPY pair is trading within a range defined by the 89.50 support and 90.00 resistance levels. A decisive break above 90.00 could signal a bullish trend reversal, targeting 91.00 and 91.50. Conversely, a break below 89.50 could lead to further declines towards 86.00 and 84.50.
