AUDJPY Up 19 Pips On Hourly Chart, Came Into Today Down For the 2nd Straight Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated September 4, 2020 9:48 GMT)

Currently, AUDJPY’s rate is up 1860 pips (0.24%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 200 hour moving averages have been crossed, with price now being above them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 18 pips (0.23%) since yesterday (opening today near 77.899), marking the 2nd straight day it has gone down. Relative to other instruments in the Forex asset class, AUDJPY ranked 25th yesterday in terms of percentage price change. Here is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

The first thing we should note is that AUDJPY is now close to its 20 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 14 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDJPY, with 12 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 2.4, which is bullish. Here’s a piece we found on tradingview.com that we thought you might enjoy.


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram