(Last Updated January 14, 2021 2:14 GMT)
At the moment, AUDJPY’s rate is up 820 pips (0.1%) from the hour prior. The hourly chart shows that AUDJPY has seen 2 straight up hours. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. Regarding moving averages, it should first be noted that price has crossed the 100, 20 and 50 hour moving averages, resulting in them so that price is now turning above them. 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 back and forth price flow continues for AUDJPY, which started today off at 80.298, down 33 pips 0.42% from the previous day. Relative to other instruments in the Forex asset class, AUDJPY ranked 32nd the previous day in terms of percentage price change. Below is a price chart of AUDJPY.
AUDJPY Technical Analysis
The first thing we should note is that 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. 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. For additional context, note that price has gone up 7 out of the past 10 days.