NZDJPY Up 2 Pips Over Past Hour, Moves Down For the 2nd Consecutive Day; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated January 6, 2021 2:22 GMT)

At the moment, NZDJPY’s rate is up 150 pips (0.02%) from the hour prior. NZDJPY has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. 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 down 25 pips (0.34%) since the day prior (opening today near 73.96), marking the 2nd consecutive day it has gone down. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 24th in terms of percentage change since the day prior. The price chart of NZDJPY below illustrates.

NZDJPY

NZDJPY Technical Analysis

Notably, NZDJPY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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 5 out of the past 10 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDJPY; just 2 sell signals and 2 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

The Japanese Yen could be at risk of extended losses, as price hovers precariously above sentiment-defining support. AUD/JPY, CAD/JPY, NZDJPY levels to watch.