outlook<\/a> remains undisputed, despite the necessity for a healthy correction to address the overbought conditions.<\/p>\nThe daily Relative Strength Index (RSI) currently stands at 66, a decline from Monday’s 68, hinting at an impending downtrend. However, it remains within a positive territory devoid of extreme conditions. Meanwhile, the Moving Average Convergence Divergence (MACD) prints flat red bars which implies diminishing buying pressure as a shift towards a potential consolidation or correction phase.<\/p>\n
NZD\/JPY daily chart<\/h2>\n<\/p>\n
The steady grip of bulls above the 20-day SMA illustrates their strength, coupled with the technical indicators nearing overbought status, this further cements the positive technical outlook of the Kiwi against the Yen. However, overbought conditions necessitate a healthy correction or consolidation to ensure sustained upward momentum.<\/p>\n
As investors anticipate subsequent trading sessions, the focus is on the immediate support at 97.00 and the resistance target at 98.00. A sustained break above the consolidation range could validate further upside while slipping below the 20-day SMA could indicate a deeper correction.<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
NZD\/JPY remains stable at 97.60, as the pair starts consolidating. The 20-day SMA\u00a0at 96.30 offers considerable support against a potential correction. Despite the consolidation phase, the bullish outlook persists, eyeing the next key resistance at 98.00. On Tuesday, the NZD\/JPY cross appeared to have entered a consolidation phase, retaining its footing at the fresh high […]<\/p>\n","protected":false},"author":2,"featured_media":54117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,298,257,276,255,250,5192,252,247,253,249,308,256,254],"class_list":["post-331197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-crosses","tag-cryptocurrency","tag-currencies","tag-gta","tag-looks-rare","tag-nzdjpy","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/331197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=331197"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/331197\/revisions"}],"predecessor-version":[{"id":331199,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/331197\/revisions\/331199"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/54117"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=331197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=331197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=331197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}