(Last Updated November 20, 2020 2:20 GMT)
At the moment, NZDJPY’s rate is up 720 pips (0.1%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend 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 so that price is now turning above it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
NZDJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
NZDJPY entered today at 71.678, down 19 pips (0.26%) from yesterday. Relative to other instruments in the Forex asset class, NZDJPY ranked 32nd yesterday in terms of percentage price change. Below is a price chart of NZDJPY.
NZDJPY Technical Analysis
Notably, NZDJPY is now close to its 20, 50 and 100 day averages, located at 70.6886, 70.1992 and 70.2578 respectively, and thus may be at a key juncture along those timeframes. 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 98.9 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days NZDJPY’s price has gone up 8 them.