(Last Updated July 14, 2021 0:22 GMT)
At the moment, NZDJPY’s rate is down -390 pips (-0.05%) 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 doji 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 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)
The back and forth price flow continues for NZDJPY, which started today off at 77.08654032, down 1 pips 0.02% from the day prior. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 26th in terms of percentage change since the day prior. The price chart of NZDJPY below illustrates.
NZDJPY Technical Analysis
Notably, NZDJPY is now close to its 20, 50, 100 and 200 day averages, located at 77.6537, 78.3798, 78.025 and 75.5164 respectively, and thus may be at a key juncture along those timeframes. 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 56.7 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 18 out of the past 30 days.