The daily technical analysis reveals a steady bearish momentum but with indicators recovering.
The hourly chart hints at initial signs of bullish momentum with the RSI in the positive territory.
Despite the bearish short-term indicators, the pair is trading above the main SMAs, indicating a persisting bullish sentiment in the larger trend.
During Tuesday's session, the NZD/JPY pair rose to the 91.05 level, showing a slight gain of 0.15%. Currently, the market is primarily under the seller's control, resulting in a short-term bearish outlook. Nonetheless, the broader outlook remains bullish, signifying the potential for buyers to regain control in the next sessions.
On the daily chart, the NZD/JPY pair has been demonstrating a bearish momentum, as suggested by the Relative Strength Index (RSI) readings. The RSI, which was in the positive territory last week, plunged into the negative zone, marking a progressive decline with an upswing printed in Tuesday's session
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