AUDJPY Down 10 Pips in Last Hour, Moves Down For the 2nd Consecutive Day; is Inching Close to 100 Day Average

Hourly Update

(Last Updated November 19, 2020 2:14 GMT)

Currently, AUDJPY’s rate is down -1020 pips (-0.13%) 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. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDJPY. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

AUDJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDJPY is down 22 pips (0.29%) since the previous day (opening today near 75.824), marking the 2nd consecutive day it has gone down. Out of the 40 instruments in the Forex asset class, AUDJPY ended up ranking 29th for the day in terms of price change. The price chart of AUDJPY below illustrates.

AUDJPY

AUDJPY Technical Analysis

Notably, AUDJPY is now close to its 20, 50 and 100 day averages, located at 75.1681, 75.3868 and 75.6606 respectively, and thus may be at a key juncture along those timeframes. 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 100 day average, which is 16.3 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 5 out of the past 10 days.