NZDJPY Up 18 Pips Over Past Hour, 2 Day Down Streak Broken; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated February 12, 2021 17:29 GMT)

At the time of this writing, NZDJPY’s rate is up 1760 pips (0.23%) 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. Most noteworthy in the world of moving averages on the hourly chart is that the 100, 20, 200 and 50 hour moving averages have been crossed, with price now being above them. 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 back and forth price flow continues for NZDJPY, which started today off at 75.72821562, up 24 pips 0.31% from yesterday. Relative to other instruments in the Forex asset class, NZDJPY ranked 7th yesterday in terms of percentage price change. Let’s take a look at price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

Coming into today NZDJPY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDJPY, with 4 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a supply zone technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hey traders, here is the analysis for the NZDJPY. NOTE – Please do your own analysis before taking the trade. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks.