(Last Updated November 23, 2021 1:43 GMT)
At the moment, NZDJPY’s rate is down -1100 pips (-0.14%) from the hour prior. NZDJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 entered today at 79.8077799, up 10 pips (0.13%) from yesterday. Out of the 39 instruments in the Forex asset class, NZDJPY ended up ranking 22nd for the day in terms of price change. Here 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, 100 and 200 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. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 10 days NZDJPY’s price has gone down 6 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for NZDJPY; just 0 sell signals and 1 buy signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s take that with a grain of salt. 🙂 As for the rationale, technical traders seem to be citing the appearance of a moving average technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
First of all this trade will be monitored on the 4 hourly chart for an entry rules to be made, and this setup is based on a weekly chart impulse which has retraced and trying to start the next impulse up