NZD/JPY Down 23 Pips On Hourly Chart, Moves Down For the 3rd Straight Day; Crosses 20 Day Moving Average

Hourly Update

(Last Updated September 16, 2022 1:43 GMT)

At the moment, NZDJPY’s rate is down -2260 pips (-0.26%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. 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 19 pips (0.22%) since yesterday (opening today near 85.5387182), marking the 3rd straight day a decline has happened. Relative to other instruments in the Forex asset class, NZDJPY ranked 29th yesterday in terms of percentage price change. Let’s take a look at price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

First things first: NZDJPY crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 19 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.