AUD/JPY Down 17 Pips Over Past Hour, Entered Today Down For the 2nd Day In A Row; Breaks Below 20 Day Average

Hourly Update

(Last Updated December 20, 2021 1:35 GMT)

At the moment, AUDJPY’s rate is down -1720 pips (-0.21%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDJPY has now gone down 5 of the past 5 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 a doji candlestick pattern on AUDJPY. Given that we see downtrend on the 20 and 5 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 44 pips (0.54%) since the day prior (opening today near 81.015), marking the 2nd day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, AUDJPY ranked 34th the day prior in terms of percentage price change. Here is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

Notably, AUDJPY crossed below its 20 day moving average yesterday. 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 22.9 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days AUDJPY’s price has gone down 9 them.