(Last Updated July 23, 2021 2:12 GMT)
At the moment, AUDJPY’s rate is up 340 pips (0.04%) from the hour prior. AUDJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 up 19 pips (0.23%) since the previous day (opening today near 81.286), marking the 3rd day in a row an increase has occurred. Out of the 39 instruments in the Forex asset class, AUDJPY ended up ranking 11th for the day in terms of price change. Let’s take a look at price chart of AUDJPY.
AUDJPY Technical Analysis
First things first: AUDJPY crossed above its 200 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 200 day average, which is 9.1 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 8 out of the past 14 days.