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NZD/JPY bulls gather momentum as bears continue consolidating

From fxstreet.com

On Tuesday's session, the NZD/JPY pair was spotted at around 89.70, showing a modest uptick of 0.25%. In addition, rebounding from a 1.70% decline since Thursday, bears are momentarily stepping back, allowing the bulls to gain ground. Indicators on the daily chart reflect a stage of bullish domination. The ascending trajectory in the Relative Strength Index (RSI) emphasises the prevailing strength of the buyers, which is further corroborated by the pair's position above its Simple Moving Averages (SMAs) of 20, 100, and 200 days. However, the Moving Average Convergence Divergence (MACD) shows a series of decreasing ... (full story)

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  • Category: Technical Analysis