Key Moments
- NZD/JPY is trading at 93.91 after breaking down from a rising wedge pattern.
- Bearish strategy anticipates a move toward the ATR-based target near 93.20, with a broader objective around S4 at 92.26.
- The pair’s current average daily true range is 115 pips, versus a 90-day average of 84 pips, while USDX is higher but in a short correction.
Bearish Technical View on NZD/JPY
NZD/JPY is currently quoted at 93.91 after falling out of a rising wedge formation, prompting a bearish trading stance. The strategy points to a potential continuation of the downside move toward an average true range (ATR) target in the 93.20 area. The longer-term objective for the move is identified at the S4 support region around 92.26.
Supporting Signals and Market Context
There is convergence on the hourly timeframe, reinforcing the downside technical outlook for the cross. At the same time, the USDX is described as being up, though in a short correction phase. Market participants are advised to monitor the USDX closely for directional cues that could influence broader risk sentiment and, indirectly, NZD/JPY behavior.
Volatility Profile: ATR Metrics
The volatility backdrop for NZD/JPY is reflected in its current average daily true range. The pair’s present ATR stands at 115 pips per day, which is above its 90-day average daily range of 84 pips per day, indicating heightened recent price movement.
| Metric | Value |
|---|---|
| Current Price (NZD/JPY) | 93.91 |
| ATR-based Target | 93.20 area |
| Overall Bearish Target (S4) | 92.26 area |
| Current ATR (per day) | 115 pips |
| 90-day Average ATR (per day) | 84 pips |
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