NZD/JPY Down 8 Pips On 4 Hour Chart, Entered Today Down For the 4th Day In A Row; Pin Bar Pattern Appearing on Chart

NZD/JPY 4 Hour Price Update

Updated July 30, 2020 01:11 AM GMT (09:11 PM EST)

The back and forth price flow continues for NZD/JPY, which started the current 4 hour candle off at 69.893, down 8 pips 0.11% from the last 4 hour candle. Compared to its peers in the Forex, NZD/JPY gave its buyers a return that ranked 30th in terms of percentage change since the last 4 hour candle.

NZD/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZD/JPY is down 1 pips (0.02%) since yesterday (opening today near 69.94559975), marking the 4th day in a row a decline has happened. Relative to other instruments in the Forex asset class, NZD/JPY ranked 25th yesterday in terms of percentage price change. Here is a price chart of NZD/JPY.

NZD/JPY

NZD/JPY Technical Analysis

Coming into today NZD/JPY is now close to its 20, 50 and 200 day moving averages, which may act as price barrier for the asset. 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 50 day average, which is 4.5 pips away. 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 NZD/JPY’s price has gone up 7 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDJPY, with 1 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 0.17, which is quite bearish. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

The New Zealand Dollar may rise after the FOMC rate decision and Fed Chairman Jerome Powell’s press briefing lifted market spirit and put a premium on risk-oriented assets.