AUD/JPY Price Recap
AUD/JPY enters today at 73.786 in US dollars, down 38 pips (0.51%) from the day prior. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 26.25% from the day prior, but down 6.12% from the same day the week before. Out of the 40 instruments in the Forex asset class, AUD/JPY ended up ranking 36th for the day in terms of day-over-day price change. Let’s take a look at price chart of AUD/JPY.
AUD/JPY Technical Analysis
Notably, AUD/JPY crossed below its 20 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 20 day average, which is 26.3 pips away. Volatility for AUD/JPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. Or to simplify this another way, note that out of the past 30 days AUD/JPY’s price has gone up 15 them.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on AUDJPY, with 18 buy signals on our radar and 19 sell signals. This imputes a buy/sell ratio of 0.95, which is neutral. As for the rationale, technical traders seem to be citing the appearance of relative strength index and triangle technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
That’s why, I think that we need to wait… MA tell sell, but hard trendline near. We need real good signal.