The daily RSI shows that buyers' hold over the market is likely fading, signaling the growing presence of sellers. On the hourly chart, indicators underline a prominent seller command in the past sessions. The NZD/JPY is trading slightly lower at around 91.23. It seems the firm grip buyers had over the market is dwindling, yet the pair doggedly persists above crucial Simple Moving Averages .
The negative thrust is confirmed by the MACD, which reveals decreasing green bars, indicating diminishing positive momentum. NZD/JPY hourly chart Upon evaluating the broader landscape, the NZD/JPY is currently hovering above its key Simple Moving Averages , reflecting continued buying pressure thereby sustaining the long-term uptrend. However, the pair closely challenges the 20-day SMA, suggesting potential for further downward movements if this level doesn’t hold.