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- The NZD/JPY pair made slight gains during Friday’s session, reaching 89.95.
- The RSI remains near the neutral zone, indicating a balance between buying and selling forces.
- The MACD indicator shows flat green bars, indicating that momentum is stabilizing.
The NZD/JPY pair continues to consolidate in a familiar range below 90.00. Technical indicators are showing mixed signals, with the RSI indicating neutral sentiment and the MACD showing stable momentum.
The Relative Strength Index, which reflects the momentum of price movements, is currently just below 50. This reading indicates that buyers and sellers do not have a clear advantage in the market, resulting in a balanced mood. Meanwhile, the MACD, a trend-following indicator, is showing flat green bars, indicating that the bullish momentum is neither gaining nor losing strength.
The pair has been hovering within a defined trading range between the 89.00 support and 90.20 resistance levels. The trading volume has been relatively low, indicating no decisive buying or selling pressure. A break above 90.20 could signal a potential bullish continuation, opening the way towards 90.50 and 91.00. Conversely, a break below 89.00 could lead to a bearish move towards 88.50 and 88.00.
