(Last Updated July 13, 2021 1:12 GMT)
At the time of this writing, AUDJPY’s rate is up 420 pips (0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 100 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)
After 3 down days, AUDJPY snaps its streak, rising 85 pips (1.04%) over the past day to close at an exchange rate of 82.498. Compared to its peers in the Forex, AUDJPY gave its buyers a return that ranked 2nd in terms of percentage change since the previous day. Let’s take a look at price chart of AUDJPY.
AUDJPY Technical Analysis
Coming into today AUDJPY is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 97 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. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 7 out of the past 14 days.