(Last Updated July 19, 2022 1:41 GMT)
Currently, NZDJPY’s rate is up 270 pips (0.03%) from the hour prior. This is the 3rd hour in a row NZDJPY has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 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, which opened today priced near 85.1018464, is down 18 pips 0.21% since yesterday, marking a reversal from the day prior — and the end of a 3 day positive run. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 31st in terms of percentage change since yesterday. Below is a price chart of NZDJPY.
NZDJPY Technical Analysis
Notably, NZDJPY is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Also of note is that on a 90 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 30 days NZDJPY’s price has gone up 15 them.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on NZDJPY, with 0 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Hello everyone!ChoCh has been madeEntry: 85.47SL: 85.59TP: 85.03