NZD/JPY Down 8 Pips in Last Hour, Makes Big Move Relative to Past Month; is Inching Close to 50 Day Average

Hourly Update

(Last Updated May 9, 2022 1:42 GMT)

At the moment, NZDJPY’s rate is down -830 pips (-0.1%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDJPY has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 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 down 11 pips (0.13%) since the previous day (opening today near 83.61936723), marking the 2nd consecutive day a decline has happened. Out of the 39 instruments in the Forex asset class, NZDJPY ended up ranking 27th for the day in terms of price change. The price chart of NZDJPY below illustrates.

NZDJPY

NZDJPY Technical Analysis

The first thing we should note is that the current price of NZDJPY is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 90 day timeframe. For additional context, note that price has gone down 7 out of the past 10 days.