AUDJPY Up 8 Pips On Hourly Chart, in an Uptrend Over Past 14 Days; is Inching Close to 50 Day Average

Hourly Update

(Last Updated September 8, 2021 12:12 GMT)

At the time of this writing, AUDJPY’s rate is up 820 pips (0.1%) from the hour prior. This is the 2nd hour in a row AUDJPY has seen its price head up. 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 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

AUDJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDJPY is down 21 pips (0.25%) since the day prior (opening today near 81.479), marking the 2nd consecutive day it has gone down. Relative to other instruments in the Forex asset class, AUDJPY ranked 32nd the day prior in terms of percentage price change. The price chart of AUDJPY below illustrates.

AUDJPY

AUDJPY Technical Analysis

Coming into today AUDJPY is now close to its 20, 50, 100 and 200 day averages, located at 80.3023, 81.1148, 82.7572 and 82.0566 respectively, and thus may be at a key juncture along those timeframes. 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 50 day average, which is 36.4 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 90 day timeframe. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days AUDJPY’s price has gone up 8 them.