(Last Updated June 13, 2022 1:41 GMT)
Currently, NZDJPY’s rate is up 340 pips (0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 20 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 39 pips (0.45%) since the day prior (opening today near 85.42657377), marking the 2nd straight day it has gone down. Out of the 39 instruments in the Forex asset class, NZDJPY ended up ranking 21st for the day in terms of price change. Let’s take a look at price chart of NZDJPY.
NZDJPY Technical Analysis
The first thing we should note is that NZDJPY is now close to its 20 and 50 day averages, located at 83.6067 and 84.1411 respectively, and thus may be at a key juncture along those timeframes. 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 128.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days NZDJPY’s price has gone up 15 them.