(Last Updated November 11, 2020 0:19 GMT)
At the moment, NZDJPY’s rate is up 1030 pips (0.14%) from the hour prior. NZDJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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)
NZDJPY is up 184 pips (2.63%) since the previous day (opening today near 71.805), marking the 2nd straight day it has gone up. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 3rd in terms of percentage change since the previous day. Below is a price chart of NZDJPY.
NZDJPY Technical Analysis
Notably, NZDJPY crossed above its 50 and 100 day moving averages 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 50 day average, which is 173.6 pips away. It should be noted, though, the 20, 50 and 200 day simple moving averages turned upwards, which may be a bullish sign. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 14 days NZDJPY’s price has gone up 10 them.