NZD/JPY Up 3 Pips On 4 Hour Chart, Moves Up For the 5th Day In A Row; Price Base in Formation Over Past 14 Days

NZD/JPY 4 Hour Price Update

Updated April 09, 2020 01:06 AM GMT (09:06 PM EST)

NZD/JPY is up 3 pips (0.05%) since the previous 4 hours (opening the current 4 hour candle near 65.461), marking the 4th candle in a row an increase has occurred. Compared to its peers in the Forex, NZD/JPY gave its buyers a return that ranked 18th in terms of percentage change since the previous 4 hours.

NZD/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZD/JPY is up 22 pips (0.34%) since the day prior (opening today near 65.5648422), marking the 5th day in a row an increase has occurred. On a relative basis, the day prior was pretty good: NZD/JPY bested all 40 of the assets in the Forex class 🙂 Below is a price chart of NZD/JPY.

NZD/JPY Technical Analysis

Notably, the current price of NZD/JPY is sitting close to its 20 and 50 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 50 day average, which is 96.3 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 10 days NZD/JPY’s price has gone up 6 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDJPY, with 5 buy signals on our radar and 3 sell signals. This imputes a buy/sell ratio of 1.67, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

I beleive NZDJPY will go to the level I pointed. Lets hope for the best.