(Last Updated May 10, 2022 1:36 GMT)
Currently, AUDJPY’s rate is up 120 pips (0.01%) from the hour prior. The hourly chart shows that AUDJPY has seen 3 straight up hours. 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 20 and 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 down 153 pips (1.65%) since the day prior (opening today near 90.784), marking the 3rd straight day a decrease has occurred. Those trading within the Forex asset class should know that AUDJPY was the worst performer in the class. Let’s take a look at price chart of AUDJPY.
AUDJPY Technical Analysis
Coming into today AUDJPY is now close to its 20 and 50 day averages, located at 92.9159 and 90.4597 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 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 5 them.