(Last Updated February 16, 2021 23:22 GMT)
Currently, NZDJPY’s rate is up 130 pips (0.02%) from the hour prior. The hourly chart shows that NZDJPY has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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. Of note is that the 20 hour changed directions on NZDJPY; it is now pointing down. 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)
The choppiness in the recent daily price action of NZDJPY continues; to start today, it came in at a price of 76.25499729, up 55 pips (0.72%) since the previous day. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 5th in terms of percentage change since the previous day. Below is a price chart of NZDJPY.
NZDJPY Technical Analysis
Notably, the current price of NZDJPY 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. 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. For additional context, note that price has gone up 6 out of the past 10 days.