NZD/JPY Up 2 Pips On Hourly Chart, Moves Up For the 2nd Consecutive Day; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated November 16, 2021 1:49 GMT)

At the moment, NZDJPY’s rate is up 170 pips (0.02%) from the hour prior. The hourly chart shows that NZDJPY has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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 20 pips (0.25%) since the day prior (opening today near 80.37257759), marking the 2nd consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, NZDJPY ranked 13th the day prior in terms of percentage price change. Here is a price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

Notably, NZDJPY is now close to its 20 and 50 day averages, located at 81.2135 and 79.2536 respectively, and thus may be at a key juncture along those timeframes. Volatility for NZDJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 and 30 day timeframes. For additional context, note that price has gone down 8 out of the past 14 days.