(Last Updated May 28, 2021 1:23 GMT)
At the time of this writing, NZDJPY’s rate is down -440 pips (-0.05%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDJPY has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 81 pips (1.04%) since the day prior (opening today near 79.41717535), marking the 3rd consecutive day an upward move has occurred. Out of the 39 instruments in the Forex asset class, NZDJPY ended up ranking 2nd for the day in terms of price change. Here is a price chart of NZDJPY.
NZDJPY Technical Analysis
Moving average crossovers are always interesting, so let’s start there: NZDJPY crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 14 days.