NZD/JPY Down 2 Pips Over Past Hour, Moves Down For the 4th Consecutive Day; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated May 11, 2022 1:47 GMT)

At the time of this writing, NZDJPY’s rate is down -180 pips (-0.02%) from the hour prior. The hourly chart shows that NZDJPY has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar 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. 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 is down 51 pips (0.62%) since the day prior (opening today near 81.987005), marking the 4th consecutive day a decrease has occurred. Relative to other instruments in the Forex asset class, NZDJPY ranked 38th the day prior in terms of percentage price change. Let’s take a look at price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

The first thing we should note is that NZDJPY is now close to its 50 and 100 day averages, located at 83.4994 and 80.4241 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 14 and 30 day timeframes, where price is headed down. Or to simplify this another way, note that out of the past 10 days NZDJPY’s price has gone down 7 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDJPY; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

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