AUD/JPY Price Recap
AUD/JPY is down 0.22% since yesterday (with its current price near 73.717), marking the 2nd day in a row a decline has happened. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 11.8% from the day prior, and up 13.97% from the same day the week before. Out of the 40 instruments in the Forex asset class, AUD/JPY ended up ranking 32nd for the day in terms of day-over-day price change. Let’s take a look at price chart of AUD/JPY.
AUD/JPY Technical Analysis
First things first: AUD/JPY crossed below its 50 day moving average yesterday. Volatility for AUD/JPY has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 30 days AUD/JPY’s price has gone up 16 them. Also, candlestick traders! Note we see a pin bar pattern on the chart.