(Last Updated April 29, 2022 1:38 GMT)
At the time of this writing, AUDJPY’s rate is down -90 pips (-0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDJPY. Given that we see an uptrend 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 up 149 pips (1.63%) since yesterday (opening today near 92.969), marking the 2nd straight day an upward move has occurred. Out of the 39 instruments in the Forex asset class, AUDJPY ended up ranking 4th for the day in terms of price change. Below is a price chart of AUDJPY.
AUDJPY Technical Analysis
The first thing we should note is that AUDJPY is now close to its 20 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 16 out of the past 30 days.