NZD/JPY Up 21 Pips Over Past 4 Hours, Makes Big Move Relative to Two Week Trend; Breaks Above 20 Day Average

NZD/JPY 4 Hour Price Update

Updated June 30, 2020 09:10 PM GMT (05:10 PM EST)

NZD/JPY is up 21 pips (0.3%) since the previous 4 hours (opening the current 4 hour candle near 69.656), marking the 2nd candle in a row it has gone up. Compared to its peers in the Forex, NZD/JPY gave its buyers a return that ranked 5th in terms of percentage change since the previous 4 hours.

NZD/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZD/JPY is up 13 pips (0.19%) since yesterday (opening today near 69.19687814), marking the 3rd day in a row it has gone up. Compared to its peers in the Forex, NZD/JPY gave its buyers a return that ranked 5th in terms of percentage change since yesterday. Let’s take a look at price chart of NZD/JPY.

NZD/JPY Technical Analysis

Notably, NZD/JPY crossed above its 20 day moving average yesterday. 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 0.4 pips away. It should be noted, though, the 200 day simple moving average turned upwards, which may be a bullish sign. 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 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days NZD/JPY’s price has gone up 7 them. 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

Of note is that traders in aggregate have opinions on NZDJPY, with 10 buy signals on our radar and 8 sell signals. This imputes a buy/sell ratio of 1.25, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Jun 30Hey Friends, here my 4H-Chart idea to NZD/JPY . Bullish Triangle. (In the chart you will find all information) Have a nice Weekend.-> IMPORTANT: Just my opinion no financial advice, everyone is responsible for their own investments or trades!