NZD/JPY Down 82 Pips; in a Downtrend Over Past 14 Days
Relative to other instruments in the forex asset class, nzd/jpy ranked 33rd yesterday in terms of percentage price change.
NZDJPY
(Last Updated April 15, 2021)
Hello! This is the news page for NZDJPY. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for NZDJPY
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Japan BoJ Gov Kuroda Speech | NA | Japanese Yen | JPY | 2021-04-15 | 01:00 GMT | ||
| New Zealand Business NZ PMI | Mar 2021 | New Zealand Dollar | NZD | 2021-04-15 | 22:30 GMT | ||
| Japan Reuters Tankan Index | Apr 2021 | Japanese Yen | JPY | 2021-04-15 | 23:00 GMT | ||
| Japan Exports YoY | Mar 2021 | Japanese Yen | JPY | 2021-04-18 | 23:50 GMT | ||
| Japan Balance of Trade | Mar 2021 | Japanese Yen | JPY | 2021-04-18 | 23:50 GMT |
The Trend
As for trends on NZDJPY, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
NZDJPY Moving Averages
The moving averages on NZDJPY summarize its price action in an interesting way. Of the 20, 50, 100, and 200 day averages — three of them (all but the 20) — are bullish, implying a upward trend, aside from a drop about 3 weeks prior.
The chart below illustrates.
Regarding NZDJPY’s correlations over the past 7 days, it has been most correlated with EURNZD. If we zoom out to a two week basis, though, the asset showing the strongest correlation to NZDJPY is AUDJPY. Alternatively, the asset least correlated with NZDJPY over the past week has been USDHKD, but if we observe the prior two weeks, the asset least correlated with NZDJPY has been USDMXN. The chart below illustrates NZDJPY against its least correlated assets.
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The View From the Weekly Timeframe
At the moment, NZDJPY’s rate is up 6626 pips (0.86%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The weekly chart below shows NZDJPY’s price action over the past year.
NZDJPY: The Monthly View
Clearest trend on the monthly is apparent at the 24 month timeframe.
NZD/JPY Up 53 Pips; in a Downtrend Over Past 30 Days
As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern.
NZD/JPY Down 61 Pips, in a Downtrend Over Past 14 Days; Social Sentiment Biased Towards Buying
The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 3.92% from the day prior, and up 182.08% from the same day the week before.
NZD/JPY Up 28 Pips, in a Downtrend Over Past 14 Days; Sentiment Suggests Buyers in Charge
As for the rationale, technical traders seem to be citing the appearance of a relative strength index technical pattern.
NZD/JPY Heads Down For the 6th Day In A Row
Something else of critical noteworthiness is that nzd/jpy’s momentum/trend on a 14 and 30 day bases may be decelerating.
NZD/JPY Down 34 Pips
Out of the 40 instruments in the forex asset class, nzd/jpy ended up ranking 29th for the day in terms of day-over-day price change.
NZD/JPY Heads Down For the 5th Day In A Row
Relative to other instruments in the forex asset class, nzd/jpy ranked 26th yesterday in terms of percentage price change.
NZD/JPY Moves Down For the 4th Day In A Row
Out of the 40 instruments in the forex asset class, nzd/jpy ended up ranking 38th for the day in terms of day-over-day price change.
NZD/JPY Down 12 Pips, in a Downtrend Over Past 30 Days; Price Base in Formation Over Past 90 Days
Volatility for nzd/jpy has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note.
NZD/JPY Down 55 Pips, Crosses 100 and 200 Day Moving Averages; in a Downtrend Over Past 30 Days
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.