NZDJPY Down 1 Pips Over Past Hour, Came Into Today Down For the 2nd Straight Day; is Inching Close to 20 and 50 Day Averages

Hourly Update

(Last Updated June 9, 2021 20:23 GMT)

At the time of this writing, NZDJPY’s rate is down -130 pips (-0.02%) 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 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

NZDJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDJPY is down 21 pips (0.27%) since the previous day (opening today near 78.73335712), marking the 2nd straight day a decline has happened. Relative to other instruments in the Forex asset class, NZDJPY ranked 32nd the previous day in terms of percentage price change. Let’s take a look at price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

The first thing we should note is that NZDJPY is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 14 days.