NZDJPY Up 1 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated January 1, 2021 3:22 GMT)

Currently, NZDJPY’s rate is up 60 pips (0.01%) from the hour prior. The hourly chart shows that NZDJPY has seen 3 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 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 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 entered today at 74.209, down 6 pips (0.09%) from the previous day. Relative to other instruments in the Forex asset class, NZDJPY ranked 27th the previous day in terms of percentage price change. Let’s take a look at price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

Notably, the current price of NZDJPY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days NZDJPY’s price has gone up 7 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!