AUD/JPY Down 2 Pips in Last Hour, Crosses 50 and 200 Day Moving Averages; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated November 23, 2021 1:36 GMT)

Currently, AUDJPY’s rate is down -160 pips (-0.02%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDJPY has now gone down 4 of the past 5 hours. 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 an uptrend 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 entered today at 82.972, up 54 pips (0.65%) from yesterday. Compared to its peers in the Forex, AUDJPY gave its buyers a return that ranked 6th in terms of percentage change since yesterday. Below is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

Notably, AUDJPY crossed above its 50 and 200 day moving averages 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 200 day average, which is 2.6 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 10 days AUDJPY’s price has gone up 5 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!