(Last Updated June 1, 2021 2:22 GMT)
At the moment, NZDJPY’s rate is down -630 pips (-0.08%) from the hour prior. The hourly chart shows that NZDJPY has seen 2 straight down hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being below it. 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 79.68901808, up 14 pips (0.17%) since the previous day. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 12th in terms of percentage change since the previous day. Let’s take a look at price chart of NZDJPY.
NZDJPY Technical Analysis
Coming into today NZDJPY is now close to its 20 and 50 day averages, located at 78.8821 and 78.0309 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. Or to simplify this another way, note that out of the past 10 days NZDJPY’s price has gone up 7 them.