NZDJPY Down 2 Pips Over Past Hour, Moves Down For the 3rd Straight Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 12, 2021 5:21 GMT)

At the moment, NZDJPY’s rate is down -150 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 down 37 pips (0.46%) since the previous day (opening today near 80.06064388), marking the 3rd straight day a decrease has occurred. Out of the 39 instruments in the Forex asset class, NZDJPY ended up ranking 35th for the day in terms of price change. Here is a price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

The first thing we should note is that 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. Volatility for NZDJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 and 90 day timeframes. Or to simplify this another way, note that out of the past 14 days NZDJPY’s price has gone down 8 them.