AUDJPY Down 1 Pips Over Past Hour, 3 Day Up Streak Snapped; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated January 5, 2021 2:14 GMT)

At the time of this writing, AUDJPY’s rate is down -100 pips (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on AUDJPY. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)

A moment of silence, please, for the end of AUDJPY’s 3 day up streak; price ended yesterday down 50 pips (-0.63%) to finish the day at a rate of 79.003. Relative to other instruments in the Forex asset class, AUDJPY ranked 33rd yesterday in terms of percentage price change. The price chart of AUDJPY below illustrates.

AUDJPY

AUDJPY Technical Analysis

Coming into today AUDJPY is now close to its 20 day moving averages, which may act as price barrier for the asset. Volatility for AUDJPY 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 up. For additional context, note that price has gone up 9 out of the past 14 days.