AUDJPY Down 4 Pips Over Past Hour, 2 Day Down Streak Snapped; Breaks Above 20 Day Average

Hourly Update

(Last Updated September 11, 2020 16:13 GMT)

Currently, AUDJPY’s rate is down -400 pips (-0.05%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDJPY has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Of note is that the 100 hour changed directions on AUDJPY; it is now pointing down. 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)

The choppiness in the recent daily price action of AUDJPY continues; to start today, it came in at a price of 77.304, up 84 pips (1.1%) since the day prior. Out of the 40 instruments in the Forex asset class, AUDJPY ended up ranking 3rd for the day in terms of price change. Below is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

Moving average crossovers are always interesting, so let’s start there: AUDJPY crossed above its 20 day moving average yesterday. 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. For additional context, note that price has gone up 5 out of the past 10 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDJPY, with 10 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 2.5, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

LINK IN BIO TO LEARN MY STRATEGY. RAHIMFXPRO


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram