NZD/JPY Up 6 Pips in Last 4 Hours, Makes Big Move Relative to Two Week Trend; is Inching Close to 200 Day Average

NZD/JPY 4 Hour Price Update

Updated June 29, 2020 09:11 PM GMT (05:11 PM EST)

The back and forth price flow continues for NZD/JPY, which started the current 4 hour candle off at 69.064, up 6 pips 0.08% from the last 4 hour candle. Relative to other instruments in the Forex asset class, NZD/JPY ranked 14th the last 4 hour candle in terms of percentage price change.

NZD/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of NZD/JPY continues; to start today, it came in at a price of 68.84189732, up 2 pips (0.02%) since the day prior. Out of the 40 instruments in the Forex asset class, NZD/JPY ended up ranking 25th for the day in terms of price change. Here is a price chart of NZD/JPY.

NZD/JPY Technical Analysis

Coming into today the current price of NZD/JPY is sitting close to its 20, 50 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 30 pips away. Volatility for NZD/JPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days NZD/JPY’s price has gone down 6 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDJPY, with 6 buy signals on our radar and 7 sell signals. This imputes a buy/sell ratio of 0.86, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hello guys Thanks for supporting us We expect because of triangle we have more falling priceBut dont forget stop loss you can use our SL but Its better that you put your SL with your own capital management Be patient to take profitGood Luck Abtin