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 it has gone down. 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. Relative to other instruments in the Forex asset class, NZD/JPY ranked 35th yesterday in terms of percentage price change. Here is a 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. Or to simplify this another way, note that out of the past 10 days NZD/JPY’s price has gone down 6 them.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on NZDJPY, with 8 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 0.8, which is neutral. As for the rationale, technical traders seem to be citing the appearance of flag and relative strength index technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Low Getting Lower and Bearish flag Formation