(Last Updated April 8, 2021 3:14 GMT)
At the moment, AUDJPY’s rate is down 20 pips (0%) from the hour prior. AUDJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. 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 some doji and pin bar candlestick patterns on AUDJPY. Given that we see downtrend 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 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)
AUDJPY is down 48 pips (0.58%) since yesterday (opening today near 83.63), marking the 2nd day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, AUDJPY ranked 32nd yesterday in terms of percentage price change. Let’s take a look at price chart of AUDJPY.
AUDJPY Technical Analysis
Moving average crossovers are always interesting, so let’s start there: AUDJPY crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days AUDJPY’s price has gone up 6 them.