(Last Updated April 8, 2021 3:22 GMT)
Currently, NZDJPY’s rate is up 500 pips (0.07%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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 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 down 47 pips (0.61%) since the day prior (opening today near 77.00903415), marking the 2nd day in a row a decrease has occurred. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 33rd in terms of percentage change since the day prior. The price chart of NZDJPY below illustrates.
NZDJPY Technical Analysis
Coming into today the current price of NZDJPY is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days NZDJPY’s price has gone up 8 them.