NZDJPY Down 7 Pips in Last Hour; Moves Up For the 2nd Consecutive Day

Hourly Update

(Last Updated January 7, 2021 2:22 GMT)

At the moment, NZDJPY’s rate is down -670 pips (-0.09%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. 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 66 pips (0.89%) since the day prior (opening today near 75.076), marking the 2nd consecutive day an increase has occurred. Out of the 40 instruments in the Forex asset class, NZDJPY ended up ranking 2nd for the day in terms of price change. Let’s take a look at price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

Notably, the current price of NZDJPY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. For additional context, note that price has gone up 6 out of the past 10 days.