On Tuesday, the NZD/JPY pair encountered sustained selling pressure as the Japanese Yen powered upwards against its rivals.
Yen leverages strength against the Kiwi on Tuesday, pushing the NZD/JPY pair closer to the 20-day SMA. Sellers face growing momentum, but significant support at 96.30 remains unchallenged. The pair might have entered in a consolidation period after hitting multi-year highs. Despite the sellers' incessant attempts, the critical support level at 95.30 remains strong which preserves an overall bullish outlook.
NZD/JPY daily chart The NZD/JPY pair's encounter with the 20-day Simple Moving Average at 95.30, showed that the buyers remain resilient and that the pair's outlook remains bullish. In case of losing it, the pair have additional supports which may limit losses at 95.00 and 94.00. As long as the cross holds above these levels, the overall outlook will be positive. NZD/JPY Overview Today last price 95.63 Today Daily Change -1.00 Today Daily Change % -1.03 Today daily open 96.
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