(Last Updated September 15, 2021 1:21 GMT)
Currently, NZDJPY’s rate is down -90 pips (-0.01%) from the hour prior. The hourly chart shows that NZDJPY has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NZDJPY. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 12 pips (0.15%) since the day prior (opening today near 78.2675257), marking the 2nd straight day it has gone up. Out of the 39 instruments in the Forex asset class, NZDJPY ended up ranking 12th for the day in terms of price change. 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, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 100 day average, which is 50.5 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 30 days NZDJPY’s price has gone up 16 them.