- The NZD dollar vs. the JPY finished tie week gaining 1.25%.
- NZD/JPY Technical Outlook: Neutral-upward biased, confirmed by a bullish RSI.
FInishing a busy week on the financial markets, the NZD/JPYended it on the right foot, up 1.25% in the week. Breaking news that Russia would be open to sit down and talk with the Ukrainian Government, increased appetite for riskier assets In the FX space means that risk-sensitive currencies like the NZD and the AUD rose to the detriment of safe-haven peers, like the low yielder Japanese yen. At the time of writing, the NZD/JPY is trading at 77.95.
Friday’s overnight session for North American traders portrayed an upbeat market sentiment, despite the continuation of Russia’s invasion of Ukraine, announced by Russian President Vladimir Putin. In the Asian session, the NZD/JPY was subdued in the 77.20-50 range. However, in the middle of the European session, earlier of New York’s open, the NZD/JPY pair moved upwards, rallying 44-pips, setting Friday’s daily high at78.01.
NZD/JPY Price Forecast: Technical outlook
The NZD/JPY began the North American session, confined between the 50 and the 200-day moving (DMA), lying at 77.26 and 77.89, respectively but late in the New York session, rallied toward 78.00, backtracking to current levels. Based on that, the pair is neutral biased, but the Relative Strength Index (RSI) at 58.50 above the 50-midline and aiming higher indicates the NZD/JPY is bullish biased with enough room before reaching overbought levels. That said, the NZD/JPY is neutral-upward bias.
Upwards, the NZDY/JPY first resistance would be 78.00. Breach of the latter would pave the way towards the 100-DMA at 78.34, followed by January 13 daily high at 78.83.
On the flip side, the NZD/JPY first support would be the 200-DMA at 77.89. Once cleared, the next support would be 50-DMA at 77.26, followed by the 77.00 mark.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD stays defensive near 1.1350 as US Dollar looks to stabilize
EUR/USD remains on the back foot for the second consecutive session, trading near 1.1350 in the European trading hours on Tuesday. The pair weakens as the US Dollar attempts to regain stability amid the US-China trade war and growing concerns over US recession. German/ EU data are awaited.
GBP/USD battles 1.3200 after UK jobs data
GBP/USD is defending minor bids near the 1.3200 mark in the early European session on Tuesday. The latest data from the UK showed that Unemployment Rate steadied at 4% in the quarter to February while Average Earnings disappointed, weighing negatively on the Pound Sterling.
Gold price retains its positive bias above $3,200 amid US-China trade war, bearish USD
Gold price regains positive traction as US tariff uncertainty continues to underpin safe-haven assets. Bets for aggressive Fed rate cuts in 2025 keep the USD depressed and also benefit the XAU/USD pair.
XRP resilient amid looming ETF deadlines
Ripple (XRP) flaunted a bullish outlook, trading at $2.1505 at the time of writing on Tuesday. Investor risk appetite has continued to grow since the middle of last week, propping XRP for a sustainable upward move, eyeing $3.0000 psychological level.
Is a recession looming?
Wall Street skyrockets after Trump announces tariff delay. But gains remain limited as Trade War with China continues. Recession odds have eased, but investors remain fearful. The worst may not be over, deeper market wounds still possible.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.