NZD/JPY Price Analysis: Bearish signals intensify short-term, long-term bullish trend remains

Bearish pressure intensified on the daily chart, and the pair lost the 20-day SMA. As the pair lies deeply oversold on the hourly chart, buyers might start taking profits. Despite the presence of strong selling pressure, the pair persistently resides above its 100 and 200-day Simple Moving Averages . This suggests a dominant bullish force in long-term time frames. But the fact the sellers conquered the 20-day average, paints the short-term outlook with a negative tone.

Compared to the daily chart, an amplified negative trend is apparent. However, the MACD on this shorter time frame similarly showcases flat red bars, emphasizing the current bearish momentum but a less intense grip which might suggest that the pair might start consolidating. NZD/JPY hourly chart If the bulls want to maintain the overall bullish trend, they must defend the 100 and 200-day SMAs. In case lost, the bearish pressure might intensify further.

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