(Last Updated April 5, 2021 2:22 GMT)
Currently, NZDJPY’s rate is down -570 pips (-0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 2 pips (0.02%) since the previous day (opening today near 77.70094092), marking the 7th consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, NZDJPY ranked 11th the previous day in terms of percentage price change. The price chart of NZDJPY below illustrates.
NZDJPY Technical Analysis
Notably, NZDJPY is now close to its 20 and 50 day averages, located at 77.5455 and 76.8026 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 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. Also, candlestick traders! Note we see doji pattern appearing here as well.