NZD/JPY Down 7 Pips Over Past Hour, Makes Big Move Relative to Past Month; Came Into Today Up For the 2nd Consecutive Day

Hourly Update

(Last Updated April 29, 2022 1:45 GMT)

At the moment, NZDJPY’s rate is down -710 pips (-0.08%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 an uptrend on the 20 and 10 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 up 94 pips (1.12%) since yesterday (opening today near 84.91137732), marking the 2nd consecutive day it has gone up. Relative to other instruments in the Forex asset class, NZDJPY ranked 8th yesterday in terms of percentage price change. Below is a price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

The first thing we should note is that NZDJPY is now close to its 20 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 7 out of the past 10 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 2 buy signals. This imputes a buy/sell ratio of 2, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Showing signs of entry for Swings to DownsideHuge Risk to Reward leading into NFP (Next Week)