NZD/JPY Up 44 Pips Over Past 4 Hours, Entered Today Up For the 2nd Day In A Row; in a Downtrend Over Past 14 Days

NZD/JPY 4 Hour Price Update

Updated March 24, 2020 03:17 AM GMT (11:17 PM EST)

NZD/JPY is up 44 pips (0.69%) since the previous 4 hours (opening the current 4 hour candle near 63.635), marking the 3rd candle in a row it has gone up. Relative to other instruments in the Forex asset class, NZD/JPY ranked 10th the previous 4 hours in terms of percentage price change.

NZD/JPY Daily New York Session Recap

Updated 21:00 GMT (17:00 EST)

NZD/JPY is up 54 pips (0.87%) since yesterday’s New York session (opening today’s post-New York session near 63.25), marking the 2nd day in a row it has gone up. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 12.2% from the day prior, and up 75.63% from the same day the week before. Out of the 40 instruments in the Forex asset class, NZD/JPY ended up ranking 12th for the day in terms of price change. Below is a price chart of NZD/JPY.

NZD/JPY Technical Analysis

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 20 day average, which is 294.8 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 19 out of the past 30 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDJPY, with 1 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 0.1, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance of a flag technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Watch the Flag Before Sell .After Broken the Flag we can sell .ThankYou