AUD/JPY Down 5 Pips On Hourly Chart, Entered Today Down For the 2nd Day In A Row; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated January 7, 2022 1:36 GMT)

At the moment, AUDJPY’s rate is down -450 pips (-0.05%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as AUDJPY has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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)

AUDJPY is down 81 pips (0.96%) since yesterday (opening today near 83.048), marking the 2nd day in a row a decline has happened. Relative to other instruments in the Forex asset class, AUDJPY ranked 35th yesterday in terms of percentage price change. Below is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

Notably, 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 200 day average, which is 37.2 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 up. For additional context, note that price has gone up 5 out of the past 10 days.