AUD/JPY Up 1 Pips Over Past Hour, Moves Up For the 4th Day In A Row; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated July 19, 2022 1:34 GMT)

At the time of this writing, AUDJPY’s rate is up 60 pips (0.01%) from the hour prior. AUDJPY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 100 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 10 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 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)

AUDJPY is up 1 pips (0.01%) since the day prior (opening today near 94.1), marking the 4th day in a row an increase has occurred. Out of the 39 instruments in the Forex asset class, AUDJPY ended up ranking 22nd for the day in terms of price change. Below is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

Notably, AUDJPY is now close to its 20 and 50 day averages, located at 93.39 and 92.6572 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days AUDJPY’s price has gone up 7 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!