Bulls are pushing slightly higher, testing resistance near 90.30

• NZD/JPY rose to 90.20 in the Wednesday session.
• The RSI is rising into neutral territory, indicating increasing buying pressure.
• The MACD is flat green, suggesting that buyer traction remains weak.

NZD/JPY bounced back slightly in the following session on Wednesday, reaching 90.20. Technical indicators suggest that the pair could be approaching a bullish short-term breakout as buyers seem to be waiting for a catalyst to test the 90.50 area.

The Relative Strength Index (RSI) is rising towards neutral territory, currently at 49, indicating that buying pressure is building. This reading suggests that the pair is likely to continue its upward move and challenge resistance at 90.50. 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 seems to be gaining strength and with the RSI rising, the cross could continue to trade in the 89.20-90.50 channel. A break above these levels could set the pace in the short term.

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