(Last Updated May 3, 2021 2:22 GMT)
At the time of this writing, NZDJPY’s rate is up 1700 pips (0.22%) from the hour prior. NZDJPY has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
NZDJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
A moment of silence, please, for the end of NZDJPY’s 5 day up streak; price ended the previous day down 62 pips (-0.78%) to finish the day at a rate of 78.26407425. Relative to other instruments in the Forex asset class, NZDJPY ranked 35th the previous day in terms of percentage price change. Here is a price chart of NZDJPY.
NZDJPY Technical Analysis
Coming into today the current price of NZDJPY is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 14 days NZDJPY’s price has gone up 9 them.