NZD/JPY Price Analysis: Technical outlook favours further decline in the near term as bears push down
Source Fxstreet
- The NZD/JPY pair has been in a downtrend, declining in four of the last six sessions.
- The RSI is oversold and has a declining slope, indicating that selling pressure is increasing.
- The MACD is also negative and the histogram is rising.
Friday's session saw the NZD/JPY pair decline by more than 1% to 86.60 marking another day of losses. The pair has been in a downtrend over the past week, closing lower in four of the last six sessions. The overall technical outlook for the NZD/JPY is negative, and the pair is likely to continue to decline in the near term.
The RSI is currently near 30, approaching the oversold area. The slope of the RSI is also declining, which suggests that selling pressure is increasing. The MACD is also negative and the histogram is rising, indicating that selling pressure is increasing. However, the oversold signals may indicate that the pair may be poised for an upward correction to consolidate the latest downward movements.
NZD/JPY daily chart
Supports to the downside are located at 86.00, 85.00, and 84.00, while resistances are seen at 88.00, 89.00, and 90.00.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses.
Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.
