AUD/JPY Price Recap
AUD/JPY is down 252 pips (3.71%) since yesterday (with its current price near 65.243), marking the 2nd day in a row a decline has happened. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 54.11% from the day prior, and up 148.18% from the same day the week before. Relative to other instruments in the Forex asset class, AUD/JPY ranked 39th yesterday in terms of percentage price change. Let’s take a look at 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 603.8 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. For additional context, note that price has gone down 11 out of the past 14 days.