NZD/JPY Up 18 Pips in Last Hour, Makes Big Move Relative to Past Month; Moves Up For the 2nd Consecutive Day

Hourly Update

(Last Updated July 15, 2022 1:46 GMT)

At the moment, NZDJPY’s rate is up 1810 pips (0.21%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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 doji candlestick pattern on NZDJPY. Given that we see an uptrend on the 20 and 10 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)

NZDJPY is up 84 pips (0.99%) since yesterday (opening today near 85.1863581), marking the 2nd consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, NZDJPY ranked 6th yesterday in terms of percentage price change. Let’s take a look at price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

First things first: NZDJPY crossed above its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days NZDJPY’s price has gone up 15 them.