NZD/JPY Up 13 Pips Over Past Hour, 2 Day Down Streak Ended; Nears 20 Day Moving Average
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.
NZDJPY
(Last Updated September 18, 2020)
Hello! This is the news page for NZDJPY. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
A trend/countertrend situation exists on NZDJPY, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 and 30 day timeframes. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
NZDJPY Moving Averages
Nuances in the trend on NZDJPY can be understood by observing the behavior of its moving averages. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 200 are bullish, suggesting the trend is generally upward, save for a drop that occurred about 6 months ago.
The chart below illustrates.
Regarding NZDJPY’s correlations over the past 7 days, it has demonstrated the strongest correlation with USDNOK. Over the past 14 days, however, USDCAD is the asset most correlated to NZDJPY. Alternatively, the asset least correlated with NZDJPY over the past week has been USDZAR, but if we observe the prior two weeks, ZARJPY has been the asset least correlated with NZDJPY. See the chart below to observe the recent price action in NZDJPY versus those of assets it hasn’t been well correlated with.
.
The View From the Weekly Timeframe
At the moment, NZDJPY’s rate is down -0.015 (-0.02%) from the week prior. Moreover, note that this is the 2nd consecutive week NZDJPY has seen its price head down. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on NZDJPY. Given that we see an uptrend on the 20 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. NZDJPY’s weekly price action over the past 52 weeks can be seen via the chart below.
NZDJPY Up 6 Pips On Hourly Chart, 2 Day Down Streak Snapped; Nears 20 Day Moving Average
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
NZDJPY Down 5 Pips Over Past Hour, 2 Day Up Streak Broken; is Inching Close to 20 Day Average
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
NZDJPY Up 11 Pips in Last Hour, 2 Day Up Streak Ended; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone up 9 out of the past 14 days.
NZDJPY Down 0 Pips On Hourly Chart; Nears 20 Day Moving Average
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
NZDJPY Up 0 Pips On Hourly Chart; Nears 20 Day Moving Average
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
NZDJPY Up 3 Pips in Last Hour, 2 Day Down Streak Snapped; Breaks Above 20 and 50 Day Averages
This imputes a buy/sell ratio of 0.29, which is bearish.
NZDJPY Down 22 Pips Over Past Hour, 2 Day Down Streak Broken; Crosses 20 and 50 Day Moving Averages
The closest is the 20 day average, which is 61.3 pips away.
NZDJPY Up 15 Pips in Last Hour; in an Uptrend Over Past 14 Days
The closest is the 20 day average, which is 76.2 pips away.
NZDJPY Down 13 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.