AUD/JPY Down 10 Pips Over Past Hour, Social Sentiment Biased Towards Buying; is Inching Close to 20 Day Average

Hourly Update

(Last Updated January 14, 2022 1:38 GMT)

Currently, AUDJPY’s rate is down -980 pips (-0.12%) from the hour prior. AUDJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. 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 entered today at 83.165, down 38 pips (0.45%) from the day prior. Compared to its peers in the Forex, AUDJPY gave its buyers a return that ranked 36th in terms of percentage change since the day prior. Here is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

The first thing we should note is that AUDJPY is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 20 day average, which is 29.8 pips away. Volatility for AUDJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 15 out of the past 30 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDJPY, with 5 buy signals on our radar and 1 sell signals. This imputes a buy/sell ratio of 5, which is very bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hey traders, in today’s trading session we are monitoring AUDJPY for a short term buying opportunity around 83 zone, once we will receive any bullish confirmation the trade will be executed.Trade safe, Joe.