AUDJPY Up 5 Pips On Hourly Chart, 3 Day Down Streak Broken; Breaks Above 100 Day Average

Hourly Update

(Last Updated November 23, 2020 2:14 GMT)

At the time of this writing, AUDJPY’s rate is up 450 pips (0.06%) from the hour prior. The hourly chart shows that AUDJPY has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them so that price is now turning above it. 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)

After 3 down days, AUDJPY snaps its streak, rising 26 pips (0.34%) over the past day to close at an exchange rate of 75.819. Compared to its peers in the Forex, AUDJPY gave its buyers a return that ranked 5th in terms of percentage change since the day prior. Here is a price chart of AUDJPY.


AUDJPY Technical Analysis

Moving average crossovers are always interesting, so let’s start there: AUDJPY crossed above its 100 day moving average yesterday. 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 100 day average, which is 13.5 pips away. Trend traders will want to observe that the strongest trend appears on the 30 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.