The closest is the 20 day average, which is 76.2 pips away.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
Given that we see downtrend on the 20 and 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
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 20 day average, which is 175.2 pips away.
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
Currently, nzdjpy’s rate is down -2030 pips (-0.28%) from the hour prior.
Currently, nzdjpy’s rate is down -810 pips (-0.11%) from the hour prior.
As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern.
Compared to its peers in the forex, nzd/jpy gave its buyers a return that ranked 12th in terms of percentage change since the day prior.