NZDJPY Up 5 Pips in Last Hour, 3 Day Up Streak Snapped; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated April 19, 2021 2:21 GMT)

At the time of this writing, NZDJPY’s rate is up 510 pips (0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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)

A moment of silence, please, for the end of NZDJPY’s 3 day up streak; price ended the previous day down 28 pips (-0.36%) to finish the day at a rate of 77.71491615. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 33rd in terms of percentage change since the previous day. Below is a price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

The first thing we should note is that NZDJPY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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 50 day average, which is 47.4 pips away. 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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days NZDJPY’s price has gone up 9 them.