AUDJPY Up 3 Pips Over Past Hour, Moves Down For the 2nd Day In A Row; Price Base in Formation Over Past 14 Days

Hourly Update

(Last Updated September 16, 2021 2:12 GMT)

At the time of this writing, AUDJPY’s rate is up 260 pips (0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend 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)

AUDJPY is down 6 pips (0.08%) since yesterday (opening today near 80.235), marking the 2nd day in a row it has gone down. Compared to its peers in the Forex, AUDJPY gave its buyers a return that ranked 19th in terms of percentage change since yesterday. Let’s take a look at price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

Coming into today the current price of AUDJPY is sitting close to its 20, 50 and 200 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 16.3 pips away. Traders interested in playing the ranges may wish to consider that the unclear trend on the 14 day chart, coupled with price being close to the upper bollinger band may be signalling a short opportunity. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 8 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.