Bears are pushing slightly lower, testing support at 89.70

• NZD/JPY fell in the Tuesday session to settle around 89.70.
• The RSI is hovering near the 50 median, suggesting a neutral bias.
• The MACD is flat green, indicating a lack of clear momentum.

The NZD/JPY currency pair is facing renewed selling pressure on Tuesday, falling 0.30% to trade around 89.70. Technical indicators are showing mixed signals, suggesting that the pair is likely to remain range-bound in the short-term.

The Relative Strength Index (RSI) is hovering around the 50 to 46 median line, indicating that neither buyers nor sellers have a clear advantage. This reading suggests that the pair is likely to continue its sideways movement in the current range. The Moving Average Convergence Divergence (MACD) also shows a neutral bias, with flat green bars indicating that the bullish momentum is neither gaining nor losing strength.

NZD/JPY Daily Chart

As the pair appears to be stuck in a period of consolidation and with the indicators flat, the cross could continue to trade in the 88.00-90.00 channel. A break above or below these levels could set the pace in the short term.