| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Buy | Sell | Neutral |
| Alligator (13; 8; 5) | Sell | Sell | Neutral |
| SAR (0.02; 0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇗ |
NZD/JPY has formed a falling wedge in force since early August. The pair narrowed its trading range and entered a consolidation period prior to shooting up this session. During this phase, the Kiwi was stranded between the weekly PP and S1.
As apparent on the chart, this strong upside momentum was followed by a reversal which managed to push the rate down to the 78.75 mark. The base scenario favours the prevalence of the bearish sentiment during the upcoming hours. However, this decline is not expected to be steep.
The rate is likely to approach the 78.20 mark. Subsequently, a reversal may occur, taking into account the rate's failure to reach the bottom wedge boundary during its last valleys. However, this change in sentiment may likewise result in momentum sideways and even appreciation next week.