NZD/JPY Price Analysis: Bulls gain some ground, bears are still around the corner

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• The daily chart of the NZD/JPY shows a period of consolidation following last week’s sharp losses.
• Red bars seen consistently on the daily MACD further depict a steady selling momentum.
• RSI values on the hourly chart signal short-term buyer domination.

In Wednesday’s session, the NZD/JPY showed some gains. Bears seem to be consolidating last week’s losses but for the short term, the outlook is turning negative. The overall trend, however, remains bullish.