AUDJPY Down 1 Pips Over Past Hour, Entered Today Up For the 6th Straight Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated October 15, 2021 23:12 GMT)

At the time of this writing, AUDJPY’s rate is down -100 pips (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDJPY. Given that we see an uptrend 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 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 84 pips (1%) since yesterday (opening today near 84.438), marking the 6th straight day it has gone up. Relative to other instruments in the Forex asset class, AUDJPY ranked 4th yesterday in terms of percentage price change. Below is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

The first thing we should note is that AUDJPY is now close to its 200 day averages, located at 82.4128 respectively, and thus may be at a key juncture along those timeframes. 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 202.5 pips away. 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. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 14 days AUDJPY’s price has gone up 11 them.