AUD/JPY Down 20 Pips; Breaks Below 200 Day Average

AUD/JPY Price Recap

AUD/JPY enters today at 74.134 in US dollars, down 20 pips (0.26%) from the day prior. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 62.12% from the day prior, and up 47.93% from the same day the week before. Relative to other instruments in the Forex asset class, AUD/JPY ranked 30th yesterday in terms of percentage price change. The price chart of AUD/JPY below illustrates.

AUD/JPY Technical Analysis

Moving average crossovers are always interesting, so let’s start there: AUD/JPY crossed below its 200 day moving average 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 12.4 pips away. Volatility for AUD/JPY has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. Or to simplify this another way, note that out of the past 10 days AUD/JPY’s price has gone up 5 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDJPY, with 9 buy signals on our radar and 16 sell signals. This imputes a buy/sell ratio of 0.56, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on; below is a short snippet from it to give you a taste.