AUDJPY Down 24 Pips in Last Hour, in an Uptrend Over Past 14 Days; Sentiment Strongly Favors Sellers

Hourly Update

(Last Updated November 18, 2020 2:14 GMT)

At the time of this writing, AUDJPY’s rate is down -2370 pips (-0.31%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDJPY has now gone down 5 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. 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)

The choppiness in the recent daily price action of AUDJPY continues; to start today, it came in at a price of 76.041, down 49 pips (0.64%) since the previous day. Out of the 40 instruments in the Forex asset class, AUDJPY ended up ranking 39th for the day in terms of price change. The price chart of AUDJPY below illustrates.

AUDJPY

AUDJPY Technical Analysis

Coming into today AUDJPY is now close to its 20, 50 and 100 day averages, located at 75.0974, 75.4164 and 75.6454 respectively, and thus may be at a key juncture along those timeframes. 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 100 day average, which is 39.6 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days AUDJPY’s price has gone up 6 them.