NZD/JPY Price Analysis: Bears extend their control, aiming for 87.00
Source Fxstreet
- The NZD/JPY pair fell sharply on Friday and reaching a low of 87.85.
- The RSI has plunged to 36, indicating that the bears are in full control and the negative momentum is likely to persist.
- Bears have the 87.00 threshold on their sight.
The NZD/JPY pair has maintained its bearish stance, extending the selloff that started in Tuesday's session. Technical indicators strongly suggest that the bears have the upper hand, and the pair could continue to decline in the coming days.
The Relative Strength Index (RSI) has reached 36 and approaches the oversold threshold. However, after the pair shed more than 3% this week, the cross might consolidate in the next sessions, as bears might run out of steam.
NZD/JPY daily chart
On the daily chart, the NZD/JPY pair is showing signs of sustained weakness. After having fallen below the 20-day Simple Moving Average (SMA) of 89.60, bears seem to have gained sufficient momentum to exert further downward pressure. If the selling continues, critical support levels appear at 87.50, 87.30, and 87.00.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Fed October Rate Decision Preview: Rate Hike Pause Has Become Consensus, How Will US Stocks, Dollar, and Gold React?The Federal Reserve will announce its October interest rate decision at 14:00 Eastern Time on October 28, and Fed Chair Warsh will hold a press conference at 14:30. Markets currently wide
The Federal Reserve will announce its October interest rate decision at 14:00 Eastern Time on October 28, and Fed Chair Warsh will hold a press conference at 14:30. Markets currently wide
Anthropic files for a $2 trillion IPO — the $80.7 billion loss is the decoy, the $450 billion compute bill is the riskAnthropic publicly filed its S-1 on October 26, revealing $16.29 billion of first-half revenue (+1,304% year over year) and a $80.7 billion net loss — of which $72.4 billion is a non-cash convertible-note charge. The real number is the $450 billion of signed, mostly non-cancelable compute commitments. Here is what the filing says, why NVDA, ARM and MU are the tradeable read-through, and the conditions that decide whether the AI trade passes its first public valuation test.
Anthropic publicly filed its S-1 on October 26, revealing $16.29 billion of first-half revenue (+1,304% year over year) and a $80.7 billion net loss — of which $72.4 billion is a non-cash convertible-note charge. The real number is the $450 billion of signed, mostly non-cancelable compute commitments. Here is what the filing says, why NVDA, ARM and MU are the tradeable read-through, and the conditions that decide whether the AI trade passes its first public valuation test.
Tesla jumps 5% as Barclays puts a $450 target on the SpaceX merger — the chart was already pointing to 431Tesla closed at $391.62 on October 26, up 5.21%, after Barclays upgraded the stock to Overweight and lifted its target to $450 from $370, citing a sharp inflection in Robotaxi miles and a potential SpaceX merger. The move also completed a double bottom at $345.88 and $349.33, with a neckline at $388.56 and a measured target of $431.24. Here is what the upgrade actually says, why the chart and the analyst now point the same way, and what would break the target.
Tesla closed at $391.62 on October 26, up 5.21%, after Barclays upgraded the stock to Overweight and lifted its target to $450 from $370, citing a sharp inflection in Robotaxi miles and a potential SpaceX merger. The move also completed a double bottom at $345.88 and $349.33, with a neckline at $388.56 and a measured target of $431.24. Here is what the upgrade actually says, why the chart and the analyst now point the same way, and what would break the target.
Euro weakens below 1.1200 as traders brace for Fed, ECB rate decisionsThe EUR/USD pair extends the decline near 1.1170 during the early Asian trading hours on Tuesday, pressured by risk-off sentiment. Markets might turn cautious later in the day ahead of the US Federal Reserve (Fed) and European Central Bank (ECB) interest rate decisions later this week.
The EUR/USD pair extends the decline near 1.1170 during the early Asian trading hours on Tuesday, pressured by risk-off sentiment. Markets might turn cautious later in the day ahead of the US Federal Reserve (Fed) and European Central Bank (ECB) interest rate decisions later this week.
Bitcoin falls below the $80,000 mark as the October FOMC decision approaches, threatening a further dip toward $75,000.On October 26, Bitcoin (BTC) again lost the key psychological mark o
Related Instrument
