AUDJPY Down 9 Pips in Last Hour, Price Base in Formation Over Past 14 Days; Eyes 20 Day Average

Hourly Update

(Last Updated September 17, 2021 1:12 GMT)

At the moment, AUDJPY’s rate is down -890 pips (-0.11%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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 6 pips (0.08%) since the previous day (opening today near 80.235), 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 19th for the day in terms of price change. Below is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

Coming into today AUDJPY is now close to its 20, 50 and 200 day averages, located at 80.3983, 80.8109 and 82.164 respectively, and thus may be at a key juncture along those timeframes. 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 16.3 pips away. Rangebound traders may wish to note that AUDJPY is getting close to its upper bollinger band, which, when coupled with the lack of trend on a 14 day timeframe, may be an opportunity for short sellers. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 10 days AUDJPY’s price has gone down 7 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!