NZD/JPY intraday: the RSI is oversold
Our pivot point stands at 90.44.
Our preference: the downside prevails as long as 90.44 is resistance.
Alternative scenario: above 90.44, look for 90.68 and 90.83.
Comment: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 90.57 and 90.66). Finally, the NZD/JPY has penetrated its lower Bollinger band (90.21).
Supports and resistances:
90.83 **
90.68 *
90.44 **
90.34
90.19 last
89.89
89.75 **
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