The daily chart of the NZD/JPY suggests a growing selling momentum.
In contrast, indicators at the hourly chart show a mild recovery, with an improving RSI.
Whilst the pair have been subject to short-term selling pressure, the dominant bullish trend still prevails.
The NZD/JPY pair was trading at 91.36 in Thursday's session, experiencing a decline of 0.18%. From a technical perspective, bearish signals are evident on the daily chart, whereas the hourly chart shows potential improvement.
On the daily chart, the Relative Strength Index (RSI) has been residing in negative territory for the past few sessions. The most recent RSI value stands at 45, indicating a slightly bearish bias daily. This bearish stance is further reinforced by the MACD, which shows rising red bars, indicating negative momentum in the pair.
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