NZDJPY Down 8 Pips Over Past Hour

Hourly Update

(Last Updated January 15, 2021 3:23 GMT)

At the time of this writing, NZDJPY’s rate is down -810 pips (-0.11%) from the hour prior. NZDJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 200 hour moving averages have been crossed, so that price is now turning below them. 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 entered today at 74.9, up 37 pips (0.5%) from the day prior. Out of the 40 instruments in the Forex asset class, NZDJPY ended up ranking 7th for the day in terms of price change. The price chart of NZDJPY below illustrates.

NZDJPY

NZDJPY Technical Analysis

Coming into today 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. Or to simplify this another way, note that out of the past 14 days NZDJPY’s price has gone up 8 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDJPY, with 11 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 2.75, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

We’re trying to short this pair using the resistance at 75 level.Like and comment if you find value in our analysis.Feel free to post your ideas and questions at the comments section.Good luckNOTES:- All trades are executed with a valid signal of our own. As a trader you should develop and test your own entry protocol.- We never trade just because the price reaches the trading zone. This also means that not every idea is a valid trade.- Our analysis are trading ideas not trading signals for you. Therefore questions about the status of the trade, stop loss, take profit levels won’t help your progress to be a better trader.- Instead of trying to take this trade and win small profits, focus on the analysis and how to create your own trading style.Best Regards.