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NZD/JPY PRICE ANALYSIS: BEARS HOLD THE UPPERHAND, BEARISH SMA CROSSOVER MIGHT INTENSIFY MOMENTUM

hagijeee
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  • The RSI on the daily chart lies deep in negative terrain.
  • Inidicators on the hourly chart are showing a slight improvement.
  • The 20 and 100-day SMAs are about to complete a bearish crossover around 91.00.

In Tuesday's session, the NZD/JPY pair is trading with a slight rise to 90.42, marking a 0.16% gain. Despite this, sellers retain dominance within the broader market scenario, hinting towards an entrenched bearish sentiment. Encouragingly though, hourly data suggests the potential for short-term bullish corrections, indicating a touch of buyer resilience


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