(Last Updated April 28, 2022 1:44 GMT)
Currently, NZDJPY’s rate is down -1020 pips (-0.12%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NZDJPY has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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)
After 5 down days, NZDJPY snaps its streak, rising 34 pips (0.4%) over the past day to close at an exchange rate of 83.9731670091. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 11th in terms of percentage change since yesterday. The price chart of NZDJPY below illustrates.
NZDJPY Technical Analysis
Notably, NZDJPY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 16 out of the past 30 days.
The View From Around the Web
Of note is that traders in aggregate have opinions on NZDJPY, with 1 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0.25, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
After breaking the #ICE , it has started its downward path and has entered a downward trend. If it does not return to the range of suffering, the possibility of its fall is very high.