NZDJPY Down 3 Pips On Hourly Chart, Makes Big Move Relative to Past Month; 3 Day Down Streak Ended

Hourly Update

(Last Updated June 7, 2021 3:22 GMT)

Currently, NZDJPY’s rate is down -330 pips (-0.04%) from the hour prior. The hourly chart shows that NZDJPY has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, so that price is now turning below it. 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)

NZDJPY, which opened today priced near 78.95622593, is up 13 pips 0.16% since the day prior, marking a reversal from the day prior — and the end of a 3 day negative run. Out of the 39 instruments in the Forex asset class, NZDJPY ended up ranking 12th for the day in terms of price change. The price chart of NZDJPY below illustrates.

NZDJPY

NZDJPY Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZDJPY crossed above its 20 day moving average yesterday. 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 6 out of the past 10 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDJPY; just 2 sell signals and 2 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hello everyone, if you like the idea, do not forget to support with a like and follow.The following confluences have been observed and satisfied with the direction of market. Our trading plan is to bid at better price and hoping the market pick up our bid and move further with trend.The bidding plan should come with expiry date.D1/M55 (T.Cont.PB.AClim)1. (D1)(Y)(MUST) AutoClimate has statistic edge for moving down (Curr:1 / Std:5.77)2. (H4/H1)(Y)(MUST) UFO is not within whitspace3. (M55)(Y)(MUST) UFO area with in-balance price4. (M55)(Y)(MUST) EMA200/100/55 should align with EMA9 Daily5. (M55)(Y)(MUST) EMA9 Daily inside UFO areaD1/M55NZDJPY SELL @ 79.138SL 79.350 (21.2)TP 78.692 (44.6)CANCEL WHEN D1 autoclimate reset countingCANCEL WHEN EMA200 & EMA9-daily has exceeded too wide with UFOTrading plan become invalid if one of below condition appear1. The price goes further down, causing the EMA200 & EMA9-daily has exceeded too wide with UFO.2. Another potential UFO has appeared and align with EMA200 & EMA9-daily3. Autoclimate at D1/W1 has reset countingDisclaimer Notice !!!The plan that shared here are not 100% confirm winning trade. There is no such thing as “always win” strategy. There will be a time we will face losing in rows. We are not pursuing high winning rate here. With good money management, we can be consistent profit in the long run. Any trades you decide to take are your own. The trades shared here are for educational/informational purposes only and are Mulchen’s personal trades.Good luck!~Mulchen, CISSP