(Last Updated January 6, 2021 2:14 GMT)
Currently, AUDJPY’s rate is up 110 pips (0.01%) from the hour prior. The hourly chart shows that AUDJPY has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on AUDJPY. Given that we see an uptrend 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
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 the previous day down 50 pips (-0.63%) to finish the day at a rate of 79.003. Out of the 40 instruments in the Forex asset class, AUDJPY ended up ranking 33rd for the day in terms of price change. Below is a price chart of AUDJPY.
AUDJPY Technical Analysis
Notably, the current price of AUDJPY 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 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. Or to simplify this another way, note that out of the past 14 days AUDJPY’s price has gone up 9 them.