AUD/JPY Down 1 Pips On Hourly Chart, Moves Down For the 2nd Consecutive Day; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated June 13, 2022 1:34 GMT)

At the moment, AUDJPY’s rate is down -70 pips (-0.01%) from the hour prior. The hourly chart shows that AUDJPY has seen 3 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on AUDJPY. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 78 pips (0.82%) since the previous day (opening today near 94.624), marking the 2nd consecutive day a decrease has occurred. Relative to other instruments in the Forex asset class, AUDJPY ranked 30th the previous day in terms of percentage price change. Here is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

Coming into today the current price of AUDJPY is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 220.7 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. Or to simplify this another way, note that out of the past 30 days AUDJPY’s price has gone up 18 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDJPY, with 8 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 2, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Will FOMC brings a more Hawkish tone or introduces a Dovish trend for USD. See the impact of this news release on the Aussie and Yen in the chart above.