AUD/JPY Up 12 Pips Over Past Hour; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 15, 2021 1:34 GMT)

At the time of this writing, AUDJPY’s rate is up 1240 pips (0.15%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 an uptrend 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 entered today at 83.457, up 31 pips (0.37%) from the day prior. Out of the 39 instruments in the Forex asset class, AUDJPY ended up ranking 6th for the day in terms of price change. Here is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

The first thing we should note is that the current price of AUDJPY is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 200 day average, which is 57 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 30 days AUDJPY’s price has gone up 20 them.