NZDJPY is facing a strong resistance at the 90.00 level, which coincides with the triangle resistance on the daily chart and the 61.8% Fibonacci retracement of the March-April 2021 downtrend. The pair has failed to break above this level several times in the past few months, indicating a lack of bullish strength.
NZDJPY is also trading below the 50-day moving average on the daily chart, which is acting as a dynamic resistance. The 50-day MA is downward-trending, indicating a bearish bias in the short term. The pair has been rejected from the 50-day MA several times in the past few weeks, confirming its relevance as a resistance.
The stochastic oscillator on the daily chart has crossed below the overbought level of 80, indicating a possible bearish reversal. The oscillator is also pointing downwards, suggesting that the bearish momentum is increasing.
The MACD on the daily chart is below the zero line, indicating a negative trend. The MACD has also crossed below the signal line, indicating a bearish crossover. The MACD histogram is decreasing, indicating a growing bearish pressure.
Based on the above analysis, I can conclude that NZDJPY is likely to resume its downtrend in the near future, as the pair is facing a strong resistance at the 90.00 level and the technical indicators are showing a bearish signal.
NZDJPY is also trading below the 50-day moving average on the daily chart, which is acting as a dynamic resistance. The 50-day MA is downward-trending, indicating a bearish bias in the short term. The pair has been rejected from the 50-day MA several times in the past few weeks, confirming its relevance as a resistance.
The stochastic oscillator on the daily chart has crossed below the overbought level of 80, indicating a possible bearish reversal. The oscillator is also pointing downwards, suggesting that the bearish momentum is increasing.
The MACD on the daily chart is below the zero line, indicating a negative trend. The MACD has also crossed below the signal line, indicating a bearish crossover. The MACD histogram is decreasing, indicating a growing bearish pressure.
Based on the above analysis, I can conclude that NZDJPY is likely to resume its downtrend in the near future, as the pair is facing a strong resistance at the 90.00 level and the technical indicators are showing a bearish signal.