AUD/JPY Up 9 Pips On 4 Hour Chart, 3 Day Down Streak Broken; in a Downtrend Over Past 14 Days

AUD/JPY 4 Hour Price Update

Updated June 19, 2020 09:19 AM GMT (05:19 AM EST)

AUD/JPY is up 9 pips (0.12%) since the previous 4 hours (opening the current 4 hour candle near 73.455), marking the 4th candle in a row it has gone up. Compared to its peers in the Forex, AUD/JPY gave its buyers a return that ranked 2nd 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, which opened today priced near 73.428, is up 13 pips 0.17% since the previous day, marking a reversal from the day prior — and the end of a 3 day negative run. Compared to its peers in the Forex, AUD/JPY gave its buyers a return that ranked 4th in terms of percentage change since the previous day. Here is a price chart of AUD/JPY.

AUD/JPY Technical Analysis

Notably, AUD/JPY is now close to its 20 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 69.1 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 and 90 day timeframes. Or to simplify this another way, note that out of the past 10 days AUD/JPY’s price has gone down 6 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDJPY, with 10 buy signals on our radar and 21 sell signals. This imputes a buy/sell ratio of 0.48, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a wedge technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

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