NZDJPY Up 4 Pips On Hourly Chart, Entered Today Up For the 8th Straight Day; Eyes 20 Day Average

Hourly Update

(Last Updated April 6, 2021 2:22 GMT)

At the moment, NZDJPY’s rate is up 440 pips (0.06%) 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)

NZDJPY is up 15 pips (0.2%) since yesterday (opening today near 77.85476864), marking the 8th straight day an upward move has occurred. Relative to other instruments in the Forex asset class, NZDJPY ranked 11th yesterday in terms of percentage price change. Let’s take a look at price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

Coming into today NZDJPY is now close to its 20 and 50 day averages, located at 77.5534 and 76.8659 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 30 days NZDJPY’s price has gone up 19 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 4 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

it is dealing with its SR levels. wait to see which side can win the battle.