Indications from the daily chart imply a dominance by sellers for the short term.
The same indicators on the hourly chart also imply a bearish momentum, although depicting potential signs of diminishing selling traction.
The hourly RSI is recovering after hitting oversold conditions earlier in the session.
In Friday's session, the NZD/JPY pair is currently changing hands at 90.84, down 0.50%. The technical outlook for the pair points to strong control from sellers. Even though the market has been under a selling spree, recent conditions hint at a potential weakening of this selling pressure.
Based on the indicators of the daily chart, the NZD/JPY pair appears to be dominated by sellers. The Relative Strength Index (RSI) remains within negative territory. Additionally, the rising red bars on the Moving Average Convergence Divergence (MACD), which suggest negative momentum, strengthen the belief of ongoing bearish sentiment
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