NZD/JPY Down 155 Pips, in a Downtrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

NZD/JPY Price Recap

63.957 (USD) was the opening price of the day for NZD/JPY, resulting in yesterday being a day in which price moved down 155 pips 2.36% from the day prior. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 11.8% from the day prior, but up 290.3% from the same day the week before. Out of the 40 instruments in the Forex asset class, NZD/JPY ended up ranking 36th for the day in terms of day-over-day price change. The price chart of NZD/JPY below illustrates.

NZD/JPY Technical Analysis

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 380.3 pips away. The clearest trend exists on the 30 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. 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 2 sell signals and 1 buy signals. This imputes a buy/sell ratio of 0.5, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

NZDJPYCorrection 62 – 59If you like what I do, put 👍 and subscribeWaiting for your comment, what do you think about this?