NZDJPY Down 9 Pips Over Past Hour, 8 Day Up Streak Ended; Breaks Below 20 Day Average

Hourly Update

(Last Updated April 7, 2021 3:22 GMT)

Currently, NZDJPY’s rate is down -910 pips (-0.12%) from the hour prior. The hourly chart shows that NZDJPY has seen 2 straight down hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being below it. 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)

NZDJPY, which opened today priced near 77.48138751, is down 37 pips 0.48% since yesterday, marking a reversal from the day prior — and the end of a 8 day positive run. Out of the 39 instruments in the Forex asset class, NZDJPY ended up ranking 25th for the day in terms of price change. Below is a price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

First things first: NZDJPY crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days NZDJPY’s price has gone up 18 them.