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 (SMAs). Market watchers should eye the short-term trajectory of the NZD/JPY for any potential shifts that could give sellers the upper hand. Specifically, if bears breach the 20-day Simple Moving Average (SMA) at 91.00
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.