NZD/JPY Down 6 Pips On Hourly Chart, Makes Big Move Relative to Past Month; Moves Up For the 2nd Straight Day

Hourly Update

(Last Updated August 4, 2022 1:45 GMT)

Currently, NZDJPY’s rate is down -590 pips (-0.07%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 66 pips (0.8%) since the day prior (opening today near 84.077565), marking the 2nd straight day it has gone up. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 4th in terms of percentage change since the day prior. The price chart of NZDJPY below illustrates.

NZDJPY

NZDJPY Technical Analysis

Coming into today NZDJPY is now close to its 20, 50 and 100 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 100 day average, which is 28.2 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Also of note is that on the 30 and 90 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone down 8 out of the past 14 days.