(Last Updated April 14, 2021 3:22 GMT)
At the moment, NZDJPY’s rate is down -210 pips (-0.03%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDJPY has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
NZDJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of NZDJPY continues; to start today, it came in at a price of 76.97638312, up 5 pips (0.06%) since yesterday. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 12th in terms of percentage change since yesterday. Here is a price chart of NZDJPY.
NZDJPY Technical Analysis
Notably, NZDJPY is now close to its 20, 50 and 100 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 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.
The View From Around the Web
Of note is that traders in aggregate have opinions on NZDJPY, with 4 buy signals on our radar and 3 sell signals. This imputes a buy/sell ratio of 1.33, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Earlier I mentioned that NZSJPY is about to reverse with an impulsive move down, which is what happened exactly as anticipated. If you had the chance to get into that short trade then you might have gained some profit. I still believe that the rally to the down is still due and will continue till it reaches the key zone around 76.500. A breaking under 76.565, and I mean an impulsive break with a volume candle, means a downtrend is taking place fully. However, it’s more likely that the price will reverse to resume the uptrend around that area. Good luck and trade safe.