AUD/JPY Down 6 Pips On Hourly Chart, 6 Day Down Streak Broken; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated September 23, 2021 1:57 GMT)

Currently, AUDJPY’s rate is down -560 pips (-0.07%) from the hour prior. This is the 2nd consecutive hour AUDJPY has seen its price head down. Regarding the trend, note that the strongest trend exists on the 100 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)

A moment of silence, please, for the end of AUDJPY’s 6 day down streak; price ended the previous day up 54 pips (0.69%) to finish the day at a rate of 79.434. Relative to other instruments in the Forex asset class, AUDJPY ranked 3rd the previous day in terms of percentage price change. Below is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

The first thing we should note is that 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. 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 20 day average, which is 107.2 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days AUDJPY’s price has gone down 11 them.