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NZDJPY’s medium-term positive picture being tested by sellers
NZDJPY corrects below the 20-day simple moving average (SMA) after slightly breaking above the previous high from July 22 of 2019 of 73.23, putting the bigger positive picture under pressure. The short-term oscillators suggest that the negative momentum is strengthening. The MACD, although deep in the positive region, is falling below its red trigger line. Moreover, the downward sloping RSI has reached its neutral mark, while the %K accelerates below its %D line. Worth mentioning is the nearing of a bullish cross of the 200-day SMA by the 50-day one, which may warrant some caution for a move back to the upside. If ... (full story)