AUD/JPY Down 19 Pips in Last Hour, in an Uptrend Over Past 90 Days; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated May 9, 2022 1:35 GMT)

At the time of this writing, AUDJPY’s rate is down -1900 pips (-0.21%) 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. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 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 18 pips (0.2%) since the previous day (opening today near 92.31), marking the 2nd day in a row it has gone down. Out of the 39 instruments in the Forex asset class, AUDJPY ended up ranking 31st for the day in terms of price change. Here is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

Notably, AUDJPY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 8 out of the past 14 days.