(Last Updated January 1, 2021 3:14 GMT)
Currently, AUDJPY’s rate is up 510 pips (0.06%) from the hour prior. AUDJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
AUDJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
AUDJPY is up 23 pips (0.29%) since the day prior (opening today near 79.506), marking the 3rd straight day it has gone up. Relative to other instruments in the Forex asset class, AUDJPY ranked 13th the day prior in terms of percentage price change. The price chart of AUDJPY below illustrates.
AUDJPY Technical Analysis
The first thing we should note is that AUDJPY is now close to its 20 day moving averages, which may act as price barrier for the asset. Volatility for AUDJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days AUDJPY’s price has gone up 9 them.