(Last Updated April 28, 2021 2:22 GMT)
At the moment, NZDJPY’s rate is down -140 pips (-0.02%) from the hour prior. This is the 2nd consecutive hour NZDJPY has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NZDJPY. Given that we see an uptrend on the 20 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
NZDJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
NZDJPY is up 13 pips (0.17%) since yesterday (opening today near 78.35615579), marking the 3rd day in a row an increase has occurred. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 14th in terms of percentage change since yesterday. Below is a price chart of NZDJPY.
NZDJPY Technical Analysis
Notably, NZDJPY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days NZDJPY’s price has gone up 8 them.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for NZDJPY; just 2 sell signals and 1 buy signals. This imputes a buy/sell ratio of 0.5, which is bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.