NZD/JPY kicked off Monday near 91.71, showing modest gains but facing overall bearish sentiment following a five-day sell-off. Technical indicators offer a mixed view, hinting at a potential buildup of bullish pressure in the shorter term amidst longer-term bearish dominance.

On the daily chart, the Relative Strength Index (RSI) remains in negative territory, supporting bearish momentum after recent overbought conditions. This is further reinforced by the rising red bars of the Moving Average Convergence Divergence (MACD) histogram, signaling increasing negative force.

However, the hourly chart presents a contrasting picture. The RSI here fluctuates in positive territory, suggesting a potential bullish shift. Yet, the MACD histogram on this chart also displays increasing negative momentum.

While bears maintain control on the daily timeframe, hourly patterns suggest a possible short-term rebound. The pair is currently holding above the 100 and 200-day Simple Moving Averages (SMAs), which typically support a longer-term bullish view. However, any short-term bullish reversal faces resistance at the 20-day Average.