AUD/JPY Down 50 Pips in Last 4 Hours, Moves Up For the 3rd Day In A Row; in a Downtrend Over Past 30 Days

AUD/JPY 4 Hour Price Update

Updated March 25, 2020 01:39 PM GMT (09:39 AM EST)

AUD/JPY, which opened the current 4 hour candle priced near 66.808, is down 50 pips 0.75% since the last 4 hour candle, marking a reversal from the candle prior — and the end of a 5 four-hour candle positive run. Compared to its peers in the Forex, AUD/JPY gave its buyers a return that ranked 38th in terms of percentage change since the last 4 hour candle.

AUD/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/JPY is up 10 pips (0.15%) since the previous day (opening today near 66.345), marking the 3rd day in a row an upward move has occurred. Out of the 40 instruments in the Forex asset class, AUD/JPY ended up ranking 13th for the day in terms of price change. Below is a price chart of AUD/JPY.

AUD/JPY Technical Analysis

Coming into today the current price of AUD/JPY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 14 days AUD/JPY’s price has gone up 7 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDJPY, with 27 buy signals on our radar and 9 sell signals. This imputes a buy/sell ratio of 3, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hey all, the Trading Guru is back with another entry on a new series called ‘Quick Updates’….For as long as the channel remains, we will be able to do two things:1) Scalp each price movement with a short on the top trendline and a long on the bottom trendline2) Go long throughout the entire channel, after buying at a small retracement….— What is The Quick Update Series All About?