NZD/JPY Down 53 Pips On 4 Hour Chart, in a Downtrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

NZD/JPY 4 Hour Price Update

Updated March 25, 2020 01:39 PM GMT (09:39 AM EST)

NZD/JPY entered the current 4 hour candle at 64.915, down 53 pips (0.81%) from the last 4 hour candle. Out of the 40 instruments in the Forex asset class, NZD/JPY ended up ranking 39th for the four-hour candle in terms of price change.

NZD/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for NZD/JPY, which started today off at 64.754393, down 3 pips 0.05% from yesterday. Relative to other instruments in the Forex asset class, NZD/JPY ranked 29th yesterday in terms of percentage price change. Let’s take a look at price chart of NZD/JPY.

NZD/JPY Technical Analysis

Coming into today NZD/JPY is now close to its 20 day averages, located at 64.9403 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 18.6 pips away. Volatility for NZD/JPY 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 down over that time. For additional context, note that price has gone down 6 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDJPY, with 9 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 1.8, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

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