Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
17 May 2025

NZD/JPY price analysis: Cross struggles to maintain upward momentum

  • NZD/JPY trades near the 85.70 zone with minor gains on Friday.
  • The pair maintains a bearish outlook despite mixed technical signals.
  • Key support is clustered below 85.60, with resistance near 86.00.

The NZD/JPY pair is attempting to hold on to modest gains as it trades near the 85.70 zone ahead of the Asian session on Friday. Despite the slight uptick, the broader technical picture remains tilted to the downside, reflecting the influence of longer-term bearish signals that have kept the pair within a tight range recently. Traders appear hesitant to push the pair significantly higher, reflecting a cautious tone as they assess the balance of technical indicators.

NZD/JPY presents a complex technical backdrop, with short-term signals offering a mixed picture. The 20-day Simple Moving Average (SMA) currently points to a buy signal, reflecting recent strength. However, this is overshadowed by the 100-day and 200-day SMAs, both indicating a bearish outlook, highlighting the broader downward pressure. The 10-day Exponential Moving Average (EMA) and 10-day SMA, also positioned in the 80s, reinforce this bearish view, aligning with the longer-term trend.

Momentum indicators provide a similarly mixed signal. The Relative Strength Index (RSI) is in the 50s, suggesting neutral momentum, while the Moving Average Convergence Divergence (MACD) signals mild buy pressure, adding a hint of bullish potential. However, the Stochastic %K (14, 3, 3) remains in the 40s, indicating a more cautious stance, while the Commodity Channel Index (20) also signals neutrality, confirming the lack of a clear directional bias. The Average Directional Index (14), positioned around 15, underscores this neutral tone, indicating a market lacking strong trend conviction.

For now, immediate support is seen around 85.64, with additional layers at 85.51 and 85.50. On the upside, resistance is likely to emerge around 85.70, followed closely by 85.77 and 86.03, potentially limiting any recovery attempts in the near term.

Daily Chart

May 16, 2025

Mexican Peso set for weekly gains as weak US data offsets Banxico's rate cut

The Mexican Peso (MXN) erases its previous losses against the US Dollar (USD) on Friday and Is set to finish the week with gains.
Read more Previous
May 17, 2025

Moody's downgrades US debt to AA1, citing rising interest costs and unsustainable debt growth

Moody's Ratings agency downgraded the US's sovereign debt credit rating after the market close on Friday. According to Moody's, the US is facing rising debt funding costs that far exceed those of similar government debt loads.
Read more Next