NZD/JPY Up 10 Pips On 4 Hour Chart, in an Uptrend Over Past 14 Days; Doji and Pin Bar Patterns Appearing on Chart
Or to simplify this another way, note that out of the past 14 days nzd/jpy’s price has gone up 8 them.
NZDJPY
(Last Updated May 28, 2020)
Welcome to the news page for NZDJPY (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 an uptrend exists on shorter timeframes but a downtrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.
NZDJPY Moving Averages
Nuances in the trend on NZDJPY can be understood by observing the behavior of its moving averages. The 20 and 50 day averages are pointing upwards, suggesting a bullish trend, in contrast to the downward-facing 100 and 200 day averages that imply a bearish trend. Ultimately, this suggests a bullish trend on shorter timeframes, compared to a bearish trend when observing more than 3 months of data.
The chart below illustrates.
As for correlation, In terms of correlations over the past week for NZDJPY, it has been most correlated with NZDCHF. Over the past 14 days, however, NZDUSD is the asset most correlated to NZDJPY. On the flip side, the asset least correlated with NZDJPY over the past week has been USDJPY, but over the past two weeks, the asset least correlated with NZDJPY has been GBPCHF. See the chart below to observe the recent price action in NZDJPY versus those of assets it hasn’t been well correlated with.
.
NZD/JPY Down 16 Pips Over Past 4 Hours, in an Uptrend Over Past 14 Days; Doji and Pin Bar Patterns Appearing on Chart
This imputes a buy/sell ratio of 0.33, which is bearish.
NZD/JPY Up 14 Pips On 4 Hour Chart, Moves Up For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart
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.
NZD/JPY Down 11 Pips in Last 4 Hours; Pin Bar Pattern Appearing on Chart
Or to simplify this another way, note that out of the past 10 days nzd/jpy’s price has gone up 5 them.
NZD/JPY Up 1 Pips On 4 Hour Chart, Moves Down For the 3rd Day In A Row; in a Downtrend Over Past 90 Days
As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern.
NZD/JPY Up 1 Pips On 4 Hour Chart, Moves Up For the 5th Day In A Row; Pin Bar Pattern Appearing on Chart
Compared to its peers in the forex, nzd/jpy gave its buyers a return that ranked 6th in terms of percentage change since the day prior.
NZD/JPY Down 13 Pips Over Past 4 Hours, Entered Today Up For the 5th Day In A Row; Pin Bar Pattern Appearing on Chart
As for the rationale, technical traders seem to be citing the appearance of a wedge technical pattern.
NZD/JPY Up 1 Pips Over Past 4 Hours, Price Base in Formation Over Past 30 Days; Pin Bar Pattern Appearing on Chart
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.
NZD/JPY Up 26 Pips in Last 4 Hours, Makes Big Move Relative to Past Month; Pin Bar Pattern Appearing on Chart
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down.
NZD/JPY Up 55 Pips Over Past 4 Hours, in a Downtrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart
The closest is the 50 day average, which is 111 pips away.