In Monday's trading session, NZD/JPY is navigating around the 91.71 level, trading with mild gains. The overall market tone for the pair suggests a bearish bias as sellers remain in control, after closing a 1.70% losing week and tallying a five-day losing streak. Yet, signs of a gradual build-up of bullish momentum can be observed in the shorter timeframes.
On the daily chart, the Relative Strength Index (RSI) shows the NZD/JPY pair in the negative territory, indicating bearish momentum in the short-term, as sellers control the market after hitting overbought conditions last week. The rising red bars of the Moving Average Convergence Divergence (MACD) histogram, signal that negative momentum is increasing.
Meanwhile, on the hourly chart, the RSI is fluctuating within the positive territory, suggesting that bullish momentum may be building. However, the MACD histogram on this chart also presents rising red bars, suggesting a steady negative pull.
In conclusion, while investors demonstrate a short-term bearish inclination on the daily chart, patterns on the hourly chart suggest that bulls are presenting a battle. That being said, the pair is holding up the 100 and 200-day Simple Moving Averages (SMAs) which typically suggest an overall bullish trend. Still, as long as the buyers fail to conquer the 20-day Average, the short-term bias will remain negative.
Overview | |
---|---|
Today last price | 91.68 |
Today Daily Change | -0.03 |
Today Daily Change % | -0.03 |
Today daily open | 91.71 |
Trends | |
---|---|
Daily SMA20 | 91.8 |
Daily SMA50 | 90.75 |
Daily SMA100 | 89.98 |
Daily SMA200 | 88.65 |
Levels | |
---|---|
Previous Daily High | 91.78 |
Previous Daily Low | 91.19 |
Previous Weekly High | 93.35 |
Previous Weekly Low | 91.05 |
Previous Monthly High | 93.45 |
Previous Monthly Low | 89.26 |
Daily Fibonacci 38.2% | 91.55 |
Daily Fibonacci 61.8% | 91.42 |
Daily Pivot Point S1 | 91.34 |
Daily Pivot Point S2 | 90.98 |
Daily Pivot Point S3 | 90.76 |
Daily Pivot Point R1 | 91.93 |
Daily Pivot Point R2 | 92.15 |
Daily Pivot Point R3 | 92.51 |
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