(Last Updated September 23, 2021 2:6 GMT)
At the moment, NZDJPY’s rate is down -450 pips (-0.06%) from the hour prior. This is the 3rd straight hour NZDJPY has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend 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)
A moment of silence, please, for the end of NZDJPY’s 4 day down streak; price ended yesterday up 38 pips (0.49%) to finish the day at a rate of 76.74670862. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 6th in terms of percentage change since yesterday. The price chart of NZDJPY below illustrates.
NZDJPY Technical Analysis
Notably, NZDJPY is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 25.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 30 days NZDJPY’s price has gone down 17 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.