(Last Updated November 23, 2020 2:20 GMT)
At the time of this writing, NZDJPY’s rate is up 880 pips (0.12%) from the hour prior. This is the 2nd straight hour NZDJPY has seen its price head up. 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)
The choppiness in the recent daily price action of NZDJPY continues; to start today, it came in at a price of 71.922, up 24 pips (0.34%) since the previous day. Out of the 40 instruments in the Forex asset class, NZDJPY ended up ranking 7th for the day in terms of price change. The price chart of NZDJPY below illustrates.
NZDJPY Technical Analysis
The first thing we should note is that NZDJPY is now close to its 20, 50 and 100 day averages, located at 70.786, 70.2226 and 70.2756 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 113.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 14 days.