(Last Updated April 1, 2021 0:22 GMT)
At the moment, NZDJPY’s rate is up 400 pips (0.05%) from the hour prior. This is the 2nd straight hour NZDJPY has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Of note is that the 20 hour changed directions on NZDJPY; it is now pointing down. 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)
NZDJPY is up 16 pips (0.2%) since the previous day (opening today near 77.0975007), marking the 4th day in a row an increase has occurred. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 10th in terms of percentage change since the previous day. The price chart of NZDJPY below illustrates.
NZDJPY Technical Analysis
Notably, the current price of NZDJPY is sitting close to its 20 and 50 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 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days NZDJPY’s price has gone up 7 them.