AUD/JPY Down 224 Pips; in a Downtrend Over Past 30 Days

AUD/JPY Price Recap

AUD/JPY is down 224 pips (3.47%) since yesterday (with its current price near 62.329), marking the 3rd day in a row it has gone down. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 6.41% from the day prior, and up 33.15% from the same day the week before. Out of the 40 instruments in the Forex asset class, AUD/JPY ended up ranking 38th for the day in terms of day-over-day price change. Here is a price chart of AUD/JPY.

AUD/JPY Technical Analysis

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. For additional context, note that price has gone down 21 out of the past 30 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDJPY, with 5 buy signals on our radar and 9 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 that we thought you might enjoy.