NZD/JPY Price Analysis: Temporary Rebound Amidst Bearish Outlook

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The NZD/JPY pair experienced a minor recovery on Thursday, reaching 95.15, but still faces a significant weekly loss of 1.50%, reflecting an overall negative sentiment.

The NZD/JPY pair experienced a minor recovery on Thursday, reaching 95.15, but still faces a significant weekly loss of 1.50%, reflecting an overall negative sentiment.

Technical indicators show persistent bearish dominance despite the recent uptick. While the Relative Strength Index (RSI) has improved, it remains within the negative zone. The Moving Average Convergence Divergence (MACD) also signals ongoing selling pressure, although it has recently stabilized.

Immediate support levels are found at 94.50 and the critical 94.00 mark, while resistance levels are situated at 95.50 and 96.00. A break below the support levels could solidify the bearish trend.

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