AUD/JPY Down 9 Pips Over Past Hour, Moves Down For the 2nd Straight Day; Breaks Below 20 and 50 Day Averages

Hourly Update

(Last Updated September 30, 2021 21:30 GMT)

Currently, AUDJPY’s rate is down -860 pips (-0.11%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 41 pips (0.51%) since the previous day (opening today near 80.35), marking the 2nd straight day a decrease has occurred. Compared to its peers in the Forex, AUDJPY gave its buyers a return that ranked 32nd in terms of percentage change since the previous day. Here is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

Notably, AUDJPY crossed below its 20 and 50 day moving averages 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 14.6 pips away. It should be noted, though, the 20 and 50 day simple moving averages turned downwards, which may be a bearish sign. Rangebound traders may wish to note that AUDJPY is getting close to its upper bollinger band, which, when coupled with the lack of trend on a 14 day timeframe, may be an opportunity for short sellers. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days AUDJPY’s price has gone down 18 them.