NZD/JPY Price Forecast: Holds steady above 86.00 with intact bullish structure

Source Fxstreet
  • NZD/JPY maintains bullish trend with higher highs and lows since April’s 79.81 bottom.
  • Break above 87.01 needed to extend rally toward 87.73 and YTD high at 89.70.
  • Key support seen at 84.61; breach opens path toward 84.21 Kumo top and 83.77 Senkou Span B.

The NZD/JPY begins Tuesday’s Asian session flat after registering minimal gains of over 0.24% on Monday amid a risk-on mood. At the time of writing, the cross-pair trades at 86.13, unchanged.

NZD/JPY Price Forecast: Technical outlook

The NZD/JPY seems to have bottomed, with the pair remaining near current levels after hitting a yearly low of 79.81 on April 9. Since then, the pair climbed past the 86.00 figure, with price action printing a successive series of higher highs and higher lows, suggesting that the overall trend is up.

The Relative Strength Index (RSI) has also climbed past its 50 neutral line, although it signals that further consolidation lies ahead, given the lack of a catalyst.

For a bullish continuation, the NZD/JPY needs to clear the May 29 high at 87.01. A breach of the latter will clear the path to challenge higher prices, with May 13 swing high up next at 87.73, ahead of the year-to-date (YTD) high of 89.70.

Conversely, a drop below the May 22 swing low of 84.61 and the NZD/JPY could test the top of the Ichimoku Cloud (Kumo) at around 84.21. Once surpassed, the next stop would be the Senkou Span B at 83.77.

NZD/JPY Price Chart – Daily

New Zealand Dollar PRICE This week

The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies this week. New Zealand Dollar was the strongest against the US Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD -0.01% -0.02% -0.09% 0.00% 0.00% -0.08% -0.11%
EUR 0.01% 0.02% -0.05% 0.03% 0.03% 0.02% -0.08%
GBP 0.02% -0.02% -0.08% 0.01% 0.02% -0.00% -0.10%
JPY 0.09% 0.05% 0.08% 0.08% 0.07% 0.03% 0.05%
CAD -0.00% -0.03% -0.01% -0.08% -0.05% -0.02% -0.11%
AUD -0.01% -0.03% -0.02% -0.07% 0.05% -0.02% -0.11%
NZD 0.08% -0.02% 0.00% -0.03% 0.02% 0.02% -0.09%
CHF 0.11% 0.08% 0.10% -0.05% 0.11% 0.11% 0.09%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the New Zealand Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent NZD (base)/USD (quote).

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin’s Drop Below $100k Sparks Bearish Chatter, But Data Says Something ElseBitcoin has rebounded slightly after dropping below the $100,000 mark, a decline attributed to escalating geopolitical tensions. The digital asset reached lows of approximately $98,974 following
Author  NewsBTC
17 hours ago
Bitcoin has rebounded slightly after dropping below the $100,000 mark, a decline attributed to escalating geopolitical tensions. The digital asset reached lows of approximately $98,974 following
placeholder
XRP Price Reclaims Key Resistance — Are More Gains on the Horizon?XRP price started a fresh increase from the $1.920 zone. The price is back above $2.10 and might struggle to continue higher above the $2.20 zone. XRP price started a fresh increase above the $2.050
Author  NewsBTC
17 hours ago
XRP price started a fresh increase from the $1.920 zone. The price is back above $2.10 and might struggle to continue higher above the $2.20 zone. XRP price started a fresh increase above the $2.050
placeholder
Tron Price Forecast: Tether’s USDT supply on Tron surpasses $80 billionTron (TRX) stabilizes around $0.270 at the time of writing on Tuesday, following a 3.5% recovery the previous day.
Author  FXStreet
17 hours ago
Tron (TRX) stabilizes around $0.270 at the time of writing on Tuesday, following a 3.5% recovery the previous day.
placeholder
EUR/JPY Price Forecast: Trades below 169.00 after pulling back from eleven-month highsEUR/JPY halts its three-day winning streak, trading around 168.80 during the Asian hours on Tuesday. According to the technical analysis of the daily chart, the currency cross attempts to break above the ascending channel pattern, strengthening the bullish bias.
Author  FXStreet
17 hours ago
EUR/JPY halts its three-day winning streak, trading around 168.80 during the Asian hours on Tuesday. According to the technical analysis of the daily chart, the currency cross attempts to break above the ascending channel pattern, strengthening the bullish bias.
placeholder
Gold price hangs near two-week low on Israel-Iran ceasefire; downside lacks follow-throughGold price (XAU/USD) touches a nearly two-week low, around the $3,333 area during the Asian session on Tuesday, though it lacks follow-through amid mixed fundamental cues.
Author  FXStreet
17 hours ago
Gold price (XAU/USD) touches a nearly two-week low, around the $3,333 area during the Asian session on Tuesday, though it lacks follow-through amid mixed fundamental cues.
Related Instrument
goTop
quote