Technical Analysis – NZDJPY struggles to gain ground past upper band of cloud
Posted on May 11, 2020 at 1:46 pm GMTNZDJPY appears to have somewhat adopted a horizontal demeanour, something also reflected by the directionless Ichimoku lines. As positive momentum is barely present, price is finding difficulty in moving above the Ichimoku cloud’s upper band. Turning to the short-term oscillators, they too paint a picture of weak momentum. The MACD is marginally below its zero point and only just above its red signal line, while the RSI is turning flat slightly above its neutral mark. That said, traders need to [..]