AUD/JPY Down 40 Pips On Hourly Chart, 3 Day Up Streak Broken; Sentiment Suggests Buyers in Charge

Hourly Update

(Last Updated June 23, 2022 1:35 GMT)

At the moment, AUDJPY’s rate is down -3960 pips (-0.42%) from the hour prior. AUDJPY has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. 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)

AUDJPY, which opened today priced near 94.33, is down 94 pips 0.99% since the previous day, marking a reversal from the day prior — and the end of a 3 day positive run. Out of the 39 instruments in the Forex asset class, AUDJPY ended up ranking 36th for the day in terms of price change. The price chart of AUDJPY below illustrates.

AUDJPY

AUDJPY Technical Analysis

Notably, the current price of AUDJPY is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 6 out of the past 10 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDJPY, with 11 buy signals on our radar and 2 sell signals. This imputes a buy/sell ratio of 5.5, which is very bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

The zone has been a strong Support and Resistance. Price broke it, retested… Now a morning star candle stick is being formed, also with a bullish engulfing candle.