NZD/JPY Down 3 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Breaks Above 200 Day Average

Hourly Update

(Last Updated January 12, 2022 1:43 GMT)

Currently, NZDJPY’s rate is down -290 pips (-0.04%) from the hour prior. NZDJPY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 100 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 entered today at 78.25065787, up 26 pips (0.33%) from the previous day. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 9th in terms of percentage change since the previous day. The price chart of NZDJPY below illustrates.

NZDJPY

NZDJPY Technical Analysis

First things first: NZDJPY crossed above its 200 day moving average 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 200 day average, which is 9.6 pips away. Volatility for NZDJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 14 out of the past 30 days.