(Last Updated April 26, 2021 3:22 GMT)
Currently, NZDJPY’s rate is up 370 pips (0.05%) from the hour prior. This is the 2nd consecutive hour NZDJPY has seen its price head up. 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 20, 50, 100 and 200 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)
The choppiness in the recent daily price action of NZDJPY continues; to start today, it came in at a price of 77.6203736, up 38 pips (0.49%) since yesterday. Out of the 39 instruments in the Forex asset class, NZDJPY ended up ranking 3rd for the day in terms of price change. The price chart of NZDJPY below illustrates.
NZDJPY Technical Analysis
First things first: NZDJPY crossed above its 20 and 50 day moving averages yesterday. 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 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days NZDJPY’s price has gone down 8 them.