(Last Updated October 15, 2021 23:20 GMT)
At the time of this writing, NZDJPY’s rate is down -690 pips (-0.09%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 20 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 up 114 pips (1.44%) since yesterday (opening today near 80.0924383), marking the 6th consecutive day an upward move has occurred. For context, observe that yesterday was noteworthy in the sense that NZDJPY bested all 39 of the assets in the Forex class. Below is a price chart of NZDJPY.
NZDJPY Technical Analysis
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 247.5 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 and 90 day periods appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days NZDJPY’s price has gone up 10 them.