(Last Updated September 1, 2021 2:21 GMT)
At the time of this writing, NZDJPY’s rate is down -470 pips (-0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly 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.
NZDJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
The back and forth price flow continues for NZDJPY, which started today off at 77.51880471, up 58 pips 0.76% from the day prior. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 4th in terms of percentage change since the day prior. Let’s take a look at price chart of NZDJPY.
NZDJPY Technical Analysis
Moving average crossovers are always interesting, so let’s start there: NZDJPY crossed above its 50 day moving average yesterday. 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 100 day average, which is 20.2 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days NZDJPY’s price has gone down 8 them.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for NZDJPY; just 1 sell signals and 3 buy signals. This imputes a buy/sell ratio of 3, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
I like looking at my chart with minimal “indicators.” I believe we’re ready for a big move down. Let’s gooo