Lateral consolidation persists, bears beware

• NZD/JPY gained ground in the Friday session, slightly to 89.95.
• The RSI holds near neutral territory, indicating a balance between buying and selling forces.
• MACD shows flat green bars, suggesting momentum is stabilizing.

The NZD/JPY currency pair is consolidating sideways in a known range below 90.00. Technical indicators are displaying mixed signals, with the Relative Strength Index (RSI) indicating neutral sentiment and the Moving Average Convergence Divergence (MACD) showing stabilizing momentum.

The RSI, which reflects the momentum of price changes, is currently just below 50. This reading suggests that neither buyers nor sellers have a clear edge in the market, leading to balanced sentiment. Meanwhile, the MACD, a trend-following indicator, shows flat green bars, indicating that bullish momentum is neither gaining nor losing strength.

The pair floated in a trading range defined by the 89.00 support and 90.20 resistance levels. Volume was relatively light, indicating a lack of decisive buying or selling pressure. A break above 90.20 could signal a potential bullish continuation, opening the way to 90.50 and 91.00. Conversely, a break below 89.00 could trigger a bearish move towards 88.50 and 88.00.

NZD/JPY Daily Chart