(Last Updated September 13, 2021 11:12 GMT)
Currently, AUDJPY’s rate is down -220 pips (-0.03%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as AUDJPY has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 12 pips (0.15%) since yesterday (opening today near 80.766), marking the 5th straight day a decrease has occurred. Compared to its peers in the Forex, AUDJPY gave its buyers a return that ranked 34th in terms of percentage change since yesterday. The price chart of AUDJPY below illustrates.
AUDJPY Technical Analysis
The first thing we should note is that AUDJPY is now close to its 20, 50, 100 and 200 day averages, located at 80.2795, 80.9669, 82.6805 and 82.1151 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 20.1 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 14 day timeframe. Or to simplify this another way, note that out of the past 14 days AUDJPY’s price has gone up 7 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on AUDJPY, with 6 buy signals on our radar and 8 sell signals. This imputes a buy/sell ratio of 0.75, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
AUDJPY Bearish ideaWeekly Trend: BearishDaily Trend: Bearish4Hour Trend: BearishTrade scenario 1: We’re seeing some strong bearish volume stepping in here and we officially have a 4hour transition with the confirmation of a lower high.From here we’re looking for support at 80.750 to break with a lower high below. We have a lot of room to fall if this level breaks so be patient. Trade scenario 2: For us to consider AJ bullish we would ideally need to see a higher low above 81.400 with strong bullish setups.