(Last Updated April 15, 2021 3:22 GMT)
At the time of this writing, NZDJPY’s rate is down -1220 pips (-0.16%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDJPY. Given that we see an uptrend 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 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 is up 80 pips (1.04%) since the previous day (opening today near 77.77882636), marking the 2nd consecutive day an increase has occurred. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 5th in terms of percentage change since the previous day. The price chart of NZDJPY below illustrates.
NZDJPY Technical Analysis
Notably, NZDJPY crossed above its 20 and 50 day moving averages yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 62.3 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days NZDJPY’s price has gone up 10 them.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on NZDJPY, with 2 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0.5, which is bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.