(Last Updated April 30, 2021 4:23 GMT)
Currently, NZDJPY’s rate is down -60 pips (-0.01%) from the hour prior. NZDJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NZDJPY. Given that we see downtrend 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 2 pips (0.03%) since the day prior (opening today near 78.8821298), marking the 5th day in a row it has gone up. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 19th in terms of percentage change since the day prior. The price chart of NZDJPY below illustrates.
NZDJPY Technical Analysis
Coming into today NZDJPY is now close to its 20 and 50 day averages, located at 77.6966 and 77.6116 respectively, and thus may be at a key juncture along those timeframes. 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.