(Last Updated January 14, 2021 2:23 GMT)
At the moment, NZDJPY’s rate is up 820 pips (0.11%) from the hour prior. This is the 3rd straight hour NZDJPY has seen its price head up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDJPY. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above it. 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)
NZDJPY entered today at 74.529, down 31 pips (0.42%) from the day prior. Relative to other instruments in the Forex asset class, NZDJPY ranked 33rd the day prior in terms of percentage price change. Let’s take a look at price chart of NZDJPY.
NZDJPY Technical Analysis
Coming into today the current price of NZDJPY is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 5 out of the past 10 days.