(Last Updated September 8, 2021 12:21 GMT)
At the moment, NZDJPY’s rate is up 780 pips (0.1%) from the hour prior. This is the 2nd straight hour NZDJPY has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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 down 10 pips (0.13%) since the day prior (opening today near 78.27888387), marking the 2nd straight day it has gone down. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 30th in terms of percentage change since the day prior. Let’s take a look at price chart of NZDJPY.
NZDJPY Technical Analysis
Coming into today the current price of NZDJPY is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 53.3 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 9 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns appearing here.