(Last Updated July 13, 2022 1:42 GMT)
Currently, NZDJPY’s rate is down -1010 pips (-0.12%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDJPY has now gone down 5 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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)
NZDJPY is down 1 pips (0.01%) since yesterday (opening today near 83.9337304), marking the 2nd day in a row a decline has happened. Relative to other instruments in the Forex asset class, NZDJPY ranked 17th yesterday in terms of percentage price change. Below is a price chart of NZDJPY.
NZDJPY Technical Analysis
The first thing we should note is that the current price of NZDJPY is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 6 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns appearing here.