NZDJPY Down 2 Pips Over Past Hour; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated February 15, 2021 23:22 GMT)

At the time of this writing, NZDJPY’s rate is down -210 pips (-0.03%) 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 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)

The choppiness in the recent daily price action of NZDJPY continues; to start today, it came in at a price of 75.7064691, down 2 pips (0.03%) since yesterday. Out of the 39 instruments in the Forex asset class, NZDJPY ended up ranking 26th for the day in terms of price change. Here is a price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

Notably, NZDJPY is now close to its 20 and 50 day averages, located at 75.1143 and 74.4415 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!