AUD/JPY Up 2 Pips On 4 Hour Chart, Entered Today Up For the 3rd Day In A Row; is Inching Close to 20 Day Average

AUD/JPY 4 Hour Price Update

Updated June 23, 2020 01:11 PM GMT (09:11 AM EST)

AUD/JPY is up 2 pips (0.03%) since the previous 4 hours (opening the current 4 hour candle near 74.321), marking the 2nd candle in a row it has gone up. Compared to its peers in the Forex, AUD/JPY gave its buyers a return that ranked 17th in terms of percentage change since the previous 4 hours.

AUD/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/JPY is up 25 pips (0.33%) since the previous day (opening today near 74.09), marking the 3rd day in a row it has gone up. Out of the 40 instruments in the Forex asset class, AUD/JPY ended up ranking 2nd for the day in terms of price change. Below is a price chart of AUD/JPY.

AUD/JPY Technical Analysis

The first thing we should note is that AUD/JPY is now close to its 20 day averages, located at 74.3931 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 20 day average, which is 30.3 pips away. Volatility for AUD/JPY 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 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 8 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.