NZDJPY Up 7 Pips On Hourly Chart, Moves Up For the 6th Consecutive Day; Breaks Above 20 Day Average

Hourly Update

(Last Updated April 2, 2021 23:21 GMT)

At the moment, NZDJPY’s rate is up 650 pips (0.08%) from the hour prior. The hourly chart shows that NZDJPY has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDJPY. Given that we see an uptrend on the 20 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 is up 33 pips (0.43%) since the day prior (opening today near 77.68168306), marking the 6th consecutive day an increase has occurred. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 5th in terms of percentage change since the day prior. Let’s take a look at price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

First things first: NZDJPY crossed above its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days NZDJPY’s price has gone up 6 them.