AUDJPY Down 6 Pips On Hourly Chart, in a Downtrend Over Past 90 Days; Social Sentiment Biased Towards Buying

Hourly Update

(Last Updated September 10, 2021 2:12 GMT)

At the time of this writing, AUDJPY’s rate is down -560 pips (-0.07%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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 29 pips (0.35%) since the day prior (opening today near 80.885), marking the 4th consecutive day a decrease has occurred. Relative to other instruments in the Forex asset class, AUDJPY ranked 28th the day prior in terms of percentage price change. The price chart of AUDJPY below illustrates.

AUDJPY

AUDJPY Technical Analysis

Notably, AUDJPY crossed below its 50 day moving average yesterday. 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 50 day average, which is 13.8 pips away. 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 day timeframe. For additional context, note that price has gone up 8 out of the past 14 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDJPY, with 6 buy signals on our radar and 1 sell signals. This imputes a buy/sell ratio of 6, which is very bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Looking for more bullish momentum on AJ. News has subsided and now looks like it is balancing out to the upside