NZD/JPY Down 5 Pips On 4 Hour Chart, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

NZD/JPY 4 Hour Price Update

Updated July 24, 2020 01:08 PM GMT (09:08 AM EST)

NZD/JPY is down 5 pips (0.07%) since the last 4 hour candle (opening the current 4 hour candle near 70.372), marking the 3rd candle in a row a decrease has occurred. Relative to other instruments in the Forex asset class, NZD/JPY ranked 25th the last 4 hour candle in terms of percentage price change.

NZD/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for NZD/JPY, which started today off at 70.8943788, down 0 pips 0% from yesterday. Relative to other instruments in the Forex asset class, NZD/JPY ranked 23rd yesterday in terms of percentage price change. The price chart of NZD/JPY below illustrates.

NZD/JPY Technical Analysis

Notably, NZD/JPY is now close to its 20 and 50 day averages, located at 70.3852 and 69.6406 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 20 day average, which is 50.9 pips away. It should be noted, though, the 200 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDJPY, with 7 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 0.7, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com that we thought you might enjoy.