AUD/JPY Down 196 Pips; in a Downtrend Over Past 14 Days

AUD/JPY Price Recap

The back and forth price flow continues for AUD/JPY, which starts today off at 64.817 US dollars, down 196 pips 2.94% from the previous day. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 5.32% from the day prior, but up 300.59% from the same day the week before. Out of the 40 instruments in the Forex asset class, AUD/JPY ended up ranking 37th for the day in terms of day-over-day price change. Here is a price chart of AUD/JPY.

AUD/JPY Technical Analysis

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 567.1 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 10 days AUD/JPY’s price has gone down 7 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDJPY, with 2 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 0.4, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a relative strength index technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

In AUDJPY, If the RSI trend line broken down or the price become lower than 65, I will get the sell position. Since in D and W1 time-frame,the price trend is low.