NZD/JPY Down 21 Pips Over Past Hour, Entered Today Down For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart

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NZDJPY

Hourly Update (Last Updated March 22, 2021 1:49 GMT) At the moment, NZDJPY’s rate is down -2100 pips (-0.27%) from the hour prior. This is the 2nd consecutive hour NZDJPY has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. NZDJPY End of…

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