NZD/JPY Up 29 Pips in Last 4 Hours, Moves Down For the 2nd Day In A Row; in a Downtrend Over Past 30 Days

NZD/JPY 4 Hour Price Update

Updated March 26, 2020 05:14 AM GMT (01:14 AM EST)

The choppiness in the recent four-hour candle price action of NZD/JPY continues; to start the current 4 hour candle, it came in at a price of 64.627, up 29 pips (0.45%) since the previous 4 hours. Relative to other instruments in the Forex asset class, NZD/JPY ranked 4th the previous 4 hours in terms of percentage price change.

NZD/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZD/JPY is down 43 pips (0.66%) since the day prior (opening today near 64.32664), marking the 2nd day in a row a decline has happened. Out of the 40 instruments in the Forex asset class, NZD/JPY ended up ranking 26th for the day in terms of price change. Here is a price chart of NZD/JPY.

NZD/JPY Technical Analysis

The first thing we should note is that NZD/JPY is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 47.1 pips away. Volatility for NZD/JPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. Or to simplify this another way, note that out of the past 10 days NZD/JPY’s price has gone down 6 them.

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 4 sell signals. This imputes a buy/sell ratio of 0.25, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

SalaamThis based on the idea of VasilyPonomarev.https://www.tradingview.com/u/VasilyPono…It broke the descending trend line and pulled back to it.Be careful about risk management,Good luck,