(Last Updated November 27, 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:
On NZDJPY, there is currently an uptrend on the 90, 30 and 14 day timeframes.
Across several time periods between 20 and 200 days, the trend on NZDJPY has remained consistently bullish.
Below is a chart showing NZDJPY’s price with its moving averages.
As for assets in the Forex asset class NZDJPY has been correlated to over the past week, it has been most correlated with ZARJPY. If we zoom out to a two week basis, though, the asset showing the strongest correlation to NZDJPY is NZDCHF. On the flip side, the asset least correlated with NZDJPY over the past week has been GBPAUD, just the same as it has been over the past two weeks. The chart below illustrates NZDJPY against its least correlated assets.
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At the time of this writing, NZDJPY’s rate is up 1.05 (1.46%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as NZDJPY has now gone up 4 of the past 5 weeks. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 5 week timeframe. 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. The weekly chart below shows NZDJPY’s price action over the past year.
Monthly trend: strongest on the 60 month timeframe.
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 clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
The closest is the 50 day average, which is 171.2 pips away.
It should be noted, though, the 20, 50 and 200 day simple moving averages turned upwards, which may be a bullish sign.
It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign.
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.
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.