NZD/JPY Down 31 Pips in Last Hour, 5 Day Up Streak Ended; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated June 23, 2022 1:43 GMT)

At the moment, NZDJPY’s rate is down -3100 pips (-0.36%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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)

After 5 up days, NZDJPY snaps its streak, falling 105 pips (-1.22%) over the past day to close at an exchange rate of 85.24118338. Out of the 39 instruments in the Forex asset class, NZDJPY ended up ranking 38th for the day in terms of price change. Here is a price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

Notably, NZDJPY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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 5 out of the past 10 days. We’re also seeing a bearish engulfing pattern form over the past two candles, which suggests the uptrend on the 30 and 90 day

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDJPY, with 4 buy signals on our radar and 1 sell signals. This imputes a buy/sell ratio of 4, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

NZDJPY $NZDJPY Initial Long. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.