AUD/JPY Heads Up For the 3rd Day In A Row, Crosses 20 Day Moving Average; in a Downtrend Over Past 30 Days

AUD/JPY Price Recap

AUD/JPY is up 45 pips (0.61%) since yesterday (with its current price near 74.167), marking the 3rd day in a row it has gone up. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 0.55% from the day before — and down 35.15% from the same day the week before. Out of the 40 instruments in the Forex asset class, AUD/JPY ended up ranking 5th for the day in terms of day-over-day price change. Let’s take a look at price chart of AUD/JPY.

AUD/JPY Technical Analysis

First things first: AUD/JPY crossed above its 20 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 20 day average, which is 0.8 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 6 out of the past 10 days.