NZDJPY Down 12 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Crosses 50 and 200 Day Moving Averages

Hourly Update

(Last Updated September 22, 2021 1:21 GMT)

At the time of this writing, NZDJPY’s rate is down -1210 pips (-0.16%) from the hour prior. NZDJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDJPY. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 down 79 pips (1.02%) since the day prior (opening today near 76.67162096), marking the 3rd consecutive day a decrease has occurred. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 38th in terms of percentage change since the day prior. The price chart of NZDJPY below illustrates.

NZDJPY

NZDJPY Technical Analysis

Notably, NZDJPY crossed below its 50 and 200 day moving averages 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 200 day average, which is 30.2 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. Volatility for NZDJPY 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 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 16 them.