NZD/JPY Moves Down For the 2nd Day In A Row; in a Downtrend Over Past 14 Days

NZD/JPY Price Recap

NZD/JPY is down 179 pips (2.73%) since yesterday (with its current price near 63.714), marking the 2nd day in a row a decrease has occurred. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 51.98% from the day prior, and up 147.56% from the same day the week before. Out of the 40 instruments in the Forex asset class, NZD/JPY ended up ranking 35th for the day in terms of day-over-day price change. Let’s take a look at price chart of NZD/JPY.

NZD/JPY Technical Analysis

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 463.7 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 10 out of the past 14 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDJPY, with 1 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 0.17, which is quite bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.