Hourly Update

(Last Updated October 20, 2022 1:48 GMT)

Currently, NZDJPY’s rate is down -400 pips (-0.05%) from the hour prior. The Hourly Chart shows that Nzdjpy has seen 2 straight down hours. 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)

NZDJPY is up 14 pips (0.17%) since yesterday (opening today near 84.9346587), marking the 3rd consecutive day it has gone up. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 14th in terms of percentage change since yesterday. The price chart of NZDJPY below illustrates.

NZDJPY Technical Analysis

Notably, NZDJPY is now close to its 50 and 100 day moving averages, which may act as price barrier for the asset. 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 36.6 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 14 days NZDJPY’s price has gone up 8 them.

The post NZD/JPY Down 4 Pips On Hourly Chart, Came Into Today Up For the 3rd Consecutive Day; in an Uptrend Over Past 14 Days appeared first on CFDTrading.