NZD/JPY Down 31 Pips On Hourly Chart, Entered Today Up For the 5th Straight Day; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated June 22, 2022 1:45 GMT)

Currently, NZDJPY’s rate is down -3080 pips (-0.36%) from the hour prior. NZDJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. 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 is up 72 pips (0.84%) since the day prior (opening today near 86.2902189), marking the 5th straight day an increase has occurred. Out of the 39 instruments in the Forex asset class, NZDJPY ended up ranking 6th 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 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. 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 9 out of the past 14 days.

The View From Around the Web

Not much commentary on NZDJPY that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

– NZD FEATURE The NZD FEATURE currently stands at 0.6348 LEVEL. JPY FEATURE is a bit UP now compared to the previous days. The JPY FEATURE has become a bit STRONG with RISK OFF in the previous days. It could be further JPY UP. Stay tuned for the VIX INDEX. Currently VIX is getting a bit UP at the moment. NZDJPY prices are moving below DYNAMIC LEVELS. Also created an ALT.BAT PATTERN in NZDJPY. – NZDJPY Price may be slightly lower before UP up to 86.88 LEVEL according to MARKET STRUCTURE. Then the NZDJPY price can be DOWN. It may be up to 81.51 LEVEL. So look at the REACTION of STOCKS MARKETS, VIX, SNP500 MARKETS