AUD/JPY Down 9 Pips Over Past 4 Hours, 4 Day Up Streak Ended; is Inching Close to 20 Day Average

AUD/JPY 4 Hour Price Update

Updated March 27, 2020 12:50 AM GMT (08:50 PM EST)

AUD/JPY is down 9 pips (0.13%) since the last 4 hour candle (opening the current 4 hour candle near 66.281), 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 25th in terms of percentage change since the last 4 hour candle.

AUD/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 4 up days, AUD/JPY snaps its streak, falling 15 pips (-0.23%) over the past day to close at an exchange rate of 66.236. Compared to its peers in the Forex, AUD/JPY gave its buyers a return that ranked 32nd in terms of percentage change since the previous day. Below is a price chart of AUD/JPY.

AUD/JPY Technical Analysis

The first thing we should note is that the current price of AUD/JPY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for AUD/JPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days AUD/JPY’s price has gone up 6 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDJPY, with 8 buy signals on our radar and 8 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

I am expecting more upside Move Bull Flag Broken the Upper Side.All the Best