NZD/JPY Down 7 Pips Over Past Hour; 5 Day Up Streak Ended

Hourly Update

(Last Updated June 6, 2022 1:45 GMT)

At the moment, NZDJPY’s rate is down -680 pips (-0.08%) 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. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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, which opened today priced near 85.09319886, is down 14 pips 0.17% since the previous day, marking a reversal from the day prior — and the end of a 5 day positive run. Relative to other instruments in the Forex asset class, NZDJPY ranked 27th the previous day in terms of percentage price change. The price chart of NZDJPY below illustrates.

NZDJPY

NZDJPY Technical Analysis

Coming into today NZDJPY is now close to its 50 day averages, located at 84.0534 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 50 day average, which is 104 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 10 out of the past 14 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDJPY; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

BEFORE OPENING YOUR TRADE: – Remember risk management 1-3% of your capital – Take profit of your position partially – Don’t open too many orders at the same time – Be patient – Don’t be so greedy – Waiting for a candle close and execute your plan.ALWAYS DO YOUR ANALYSIS BEFORE MAKING A TRADE!