NZDJPY Down 2 Pips Over Past Hour; Entered Today Up For the 3rd Straight Day

Hourly Update

(Last Updated January 8, 2021 3:22 GMT)

Currently, NZDJPY’s rate is down -220 pips (-0.03%) from the hour prior. The hourly chart shows that NZDJPY has seen 2 straight down hours. Regarding the trend, note that the strongest trend exists on the 50 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 20 pips (0.27%) since the previous day (opening today near 75.279), marking the 3rd straight day it has gone up. Out of the 40 instruments in the Forex asset class, NZDJPY ended up ranking 15th for the day in terms of price change. Let’s take a look at price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

The first thing we should note is that 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 9 them.