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NZD/JPY intraday: below its lower Bollinger band
2024-04-05
614
Our pivot point stands at 91.29.
Our preference: the downside prevails as long as 91.29 is resistance.
Alternative scenario: the upside breakout of 91.29, would call for 91.53 and 91.67.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 91.53 and 91.42). Finally, the NZD/JPY is trading below its lower Bollinger band (standing at 91.16).
Supports and resistances:
91.67 **
91.53 *
91.29 **
91.19
91.08 last
90.78
90.64 **
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