NZDJPY trade setup: Is the pullback finally here?

Japanese wisdom says: “Good fortune comes to those who wait” — 果報は寝て待て.

The RBNZ cash rate remains at 2.50%, while the BoJ targets around 1.00%. The yield advantage supports NZDJPY, but risk sentiment and demand for the yen can still override the carry trade.

NZDJPY failed to break 93.095 and has pulled back toward 93.00. Price remains above the EMA 9, EMA 20, SMA 50 and SMA 200, keeping the intraday structure bullish.

MACD remains positive: the MACD line at 0.058 is above the signal line at 0.045. However, the histogram has narrowed to 0.013, showing that momentum is cooling.

Preferred setup — conditional long:
Entry: 92.91–92.97 after a bullish rejection
Stop loss: 92.79
TP1: 93.095
TP2: 93.15
TP3: 93.20

The entry zone has not been fully tested, so there is no confirmed entry yet.
A 15-minute close below 92.79 would cancel the setup. A break below 92.65 would invalidate the broader bullish structure.

Will buyers defend the pullback — yes or no?

This material is intended for informational purposes only and does not constitute investment advice or a personalized investment recommendation.