NZD/JPY Up 7 Pips Over Past 4 Hours, Entered Today Down For the 3rd Day In A Row; Crosses 20 Day Moving Average

NZD/JPY 4 Hour Price Update

Updated June 18, 2020 09:09 AM GMT (05:09 AM EST)

A moment of silence, please, for the end of NZD/JPY’s 3 four-hour candle down streak; price ended the previous 4 hours up 7 pips (0.1%) to finish the four-hour candle at a rate of 68.896. Relative to other instruments in the Forex asset class, NZD/JPY ranked 11th the previous 4 hours in terms of percentage price change.

NZD/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZD/JPY is down 25 pips (0.36%) since the day prior (opening today near 68.84229879), marking the 3rd day in a row a decrease has occurred. Those trading within the Forex asset class should know that NZD/JPY was the worst performer in the class. The price chart of NZD/JPY below illustrates.

NZD/JPY Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZD/JPY crossed below its 20 day moving average yesterday. 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 26.7 pips away. Volatility for NZD/JPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 30 and 90 day timeframes, where price is headed up. For additional context, note that price has gone up 7 out of the past 14 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDJPY, with 2 buy signals on our radar and 23 sell signals. This imputes a buy/sell ratio of 0.09, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance of a flag technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Good morning guys Whats up ?…Everythings all right ?…We are in a sensitive are for nzdjpy if it can break the trendline with power candle ( like maribozu or …