(Last Updated November 11, 2021 3:21 GMT)
At the moment, NZDJPY’s rate is up 100 pips (0.01%) from the hour prior. NZDJPY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend 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 down 2 pips (0.03%) since the day prior (opening today near 80.434236), marking the 2nd day in a row a decrease has occurred. Out of the 39 instruments in the Forex asset class, NZDJPY ended up ranking 21st for the day in terms of price change. Below is a price chart of NZDJPY.
NZDJPY Technical Analysis
Notably, NZDJPY is now close to its 20 and 50 day averages, located at 81.2766 and 79.1426 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 30 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. For additional context, note that price has gone up 19 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns appearing here.