Bearish
NZD/JPY declines to 94.68 as USD strengthens ahead of US PCE data.
Over the past 24 hours, NZD/JPY has experienced a downward trend, reaching a low of 94.68. This movement is primarily driven by the strengthening US Dollar ahead of the upcoming US Personal Consumption Expenditures (PCE) Price Index release. Additionally, technical analyses indicate that NZD/JPY has reversed from a resistance zone, suggesting potential further declines.
Key points
- NZD/JPY reverses from resistance zone, indicating potential further declines.
- US Dollar strengthens ahead of US PCE data, pressuring NZD/JPY.
- Technical indicators suggest potential for further downside in NZD/JPY.
Sources
AI-generated from public news sources. Not financial advice.
