AUDJPY Down 9 Pips in Last Hour; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated November 12, 2020 1:14 GMT)

At the moment, AUDJPY’s rate is down -950 pips (-0.12%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

AUDJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for AUDJPY, which started today off at 76.64, down 2 pips 0.03% from yesterday. Compared to its peers in the Forex, AUDJPY gave its buyers a return that ranked 27th in terms of percentage change since yesterday. Let’s take a look at price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

The first thing we should note is that AUDJPY is now close to its 50 and 100 day averages, located at 75.5123 and 75.5237 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 111.6 pips away. For additional context, note that price has gone up 16 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.