(Last Updated October 15, 2021 1:21 GMT)
Currently, NZDJPY’s rate is up 790 pips (0.1%) from the hour prior. NZDJPY has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 100 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 27 pips (0.34%) since the day prior (opening today near 78.9566742), marking the 5th day in a row an increase has occurred. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 12th in terms of percentage change since the day prior. Let’s take a look at price chart of NZDJPY.
NZDJPY Technical Analysis
The first thing we should note is that NZDJPY is now close to its 20, 50, 100 and 200 day averages, located at 77.4913, 77.3098, 77.5062 and 77.2878 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 100 day average, which is 145 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. Price action traders in particular will want to note that the 90 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 10 days NZDJPY’s price has gone up 8 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.