The NZD/JPY pair has been struggling to break above the key resistance level of 91.00, which has been acting as a strong barrier for the pair. If the pair manages to decisively break above this level, it could extend its gains towards the next resistance level at 92.00. However, if the pair fails to break above 91.00, it could continue to trade within the range between 90.00 and 91.00.
With the RSI retreating towards 50 and the MACD flat, the momentum for the NZD/JPY pair is currently neutral. This indicates that the pair lacks a clear direction in the short-term and is likely to continue trading within the range. Traders will be closely watching the key support and resistance levels to determine the next move for the pair.
In the longer-term, the outlook for the NZD/JPY pair remains uncertain. The pair has been trading within a range for the past seven sessions, and it is currently hovering near the middle of the range. The pair is trading below the 100 and 200-day SMA, which suggests a bearish trend in the long-term. Traders will be looking for a clear break above the key resistance levels to confirm a bullish trend.
Overall, the NZD/JPY pair is facing a key resistance level at 91.00, which could determine the future direction for the pair. Traders will be closely monitoring the RSI and MACD indicators to gauge the momentum for the pair. A decisive breakout above 91.00 could lead to further gains towards 92.00, while a failure to break above this level could result in a continuation of the range-bound trading.
In conclusion, the NZD/JPY pair is currently trading within a range, with key support at 90.00 and resistance at 91.00. The RSI and MACD indicators are pointing towards neutral momentum, indicating a lack of a clear trend in the short-term. Traders will be watching closely for a breakout above 91.00 to confirm a bullish trend, or a failure to break above this level could result in a continuation of the range-bound trading.
