The NZD/JPY pair, currently trading at 91.57, is recording gains of 0.45%, indicative of a reinforced bullish momentum.
The daily chart showcases increased buying momentum for NZD/JPY, with RSI signaling a shift from bearish to bullish territory. Indicators on the hourly chart also reveal persistent buying pressure, though MACD hints at a potential slowing down of this momentum. The bulls need to maintain the pair's standing above the SMAs, or else it could hint at a possible bearish reversal.
This could indicate that investors may be losing steam, and may consolidate gains ahead of the Asian session. NZD/JPY Hourly Chart Regarding the overall trend, the NZD/JPY exhibits increased bullish activity, particularly signified by its position above the Simple Moving Average . Being above the 20-day SMA is indicative of an improved short-term trend.
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