The NZD/JPY is trading at 92.87, which represents a slight decline of 0.10% during Tuesday's session.
Indicators continue consolidating overbought conditions while the overall trend is still positive.
In Tuesday's session, the NZD/JPY pair is seen at 92.87, trading with a slight loss of 0.10%. Even with this minor retreat, the overall technical sentiment continues to remain bullish. However, there's a hint of weakening buying momentum in the short term as buyers seem to be taking a breather to correct overbought conditions.
On the daily chart, the Relative Strength Index (RSI) for the NZD/JPY pair is indicating a positive yet slightly weakened momentum, marking a slight decline. The Moving Average Convergence Divergence (MACD) on the other hand, has been showing decreasing green bars, signaling a declining positive momentum. This indicates that the buying pressure is showing signs of slowing down, a typical situation after an asset hits overbought conditions
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