NZD/JPY Price Analysis: Buyers dominance diminishes, market could favor sellers soon

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.

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