Expected Scenarios for the New Zealand Dollar/Yen in the Medium Term

The NZD/JPY pair continued its decline, reaching significant and strong buying pressure zones on the daily timeframe, as clearly shown on the chart.

Currently, we have several possible scenarios for the pair's movement on the daily timeframe.

Expected Scenarios

The first scenario is an upward move from the current demand zones. If this occurs, we might see a target of the 92.400 level, which represents a broken support level.

The second scenario is a continuation of the current decline, but this is contingent on a break and close below the current demand zones. In this case, the pair is expected to target the next support level near 89.64.