2026-10-23 Readings lean neutral
NZD/JPY ranges near 89.356 as traders await RBNZ and BOJ rate decisions
The NZD/JPY pair is trading slightly lower today at 89.356, reflecting a mildly stronger Japanese yen. Both the one-hour and four-hour charts show a ranging market structure. Traders appear to be waiting on the sidelines ahead of major central bank meetings scheduled for next week.
Trend and momentum
The market is currently ranging on both the one-hour and four-hour timeframes. Momentum indicators are neutral, with the one-hour RSI at 51.23 and the four-hour RSI at 46.73. Price action remains inside the hourly Bollinger Bands without any squeeze, and there is no recent MACD cross. The pair has already used 123% of its average daily range, indicating that most of today's expected volatility has already played out.
Key levels
The pair is trading between today's high of 89.496 and low of 88.701. Immediate resistance sits at last week's high of 89.614, followed by yesterday's high of 90.342, which also marks the recent four-hour high. A break above 90.342 would suggest renewed buying interest. On the downside, support rests at yesterday's low of 88.865 and last week's low of 88.289. A drop below 88.289 would signal a deeper bearish shift.
News and events this week
The upcoming week is critical for both currencies due to major central bank decisions. The Reserve Bank of New Zealand will announce its Official Cash Rate on October 28. Following this, the Bank of Japan will hold its monetary policy meeting on October 29 and 30, where policymakers are widely expected to keep the key interest rate steady at 1.25%.
What would push it higher
If the pair can break and hold above yesterday's high of 90.342, it would signal a shift in momentum. This could attract buyers looking to push the market higher.
What would push it lower
If price drops below today's low of 88.701, it could trigger further selling pressure. This scenario would likely test last week's low of 88.289.
The engine has no open signal on this pair. Today's signals →