AUD/JPY Down 56 Pips Over Past 4 Hours, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

AUD/JPY 4 Hour Price Update

Updated March 31, 2020 01:11 PM GMT (09:11 AM EST)

AUD/JPY is down 56 pips (0.84%) since the previous 4 hours (opening the current 4 hour candle near 66.236), marking the 2nd candle in a row a decline has happened. Compared to its peers in the Forex, AUD/JPY gave its buyers a return that ranked 39th in terms of percentage change since the previous 4 hours.

AUD/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/JPY entered today at 66.617, up 10 pips (0.15%) from the day prior. Compared to its peers in the Forex, AUD/JPY gave its buyers a return that ranked 12th in terms of percentage change since the day prior. The price chart of AUD/JPY below illustrates.

AUD/JPY Technical Analysis

Notably, AUD/JPY is now close to its 20 day averages, located at 65.8151 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 and 30 day timeframes. For additional context, note that price has gone up 9 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDJPY, with 17 buy signals on our radar and 13 sell signals. This imputes a buy/sell ratio of 1.31, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Bearish signal: Gartley patternWait for a break of the support line for a short opportunity on a spike in momentum.