AUD/JPY 4 Hour Price Update
Updated May 25, 2020 09:08 PM GMT (05:08 PM EST)
AUD/JPY entered the current 4 hour candle at 70.497, down 2 pips (0.03%) from the last 4 hour candle. Compared to its peers in the Forex, AUD/JPY gave its buyers a return that ranked 30th in terms of percentage change since the last 4 hour candle.
AUD/JPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of AUD/JPY continues; to start today, it came in at a price of 70.332, up 2 pips (0.03%) since the day prior. Compared to its peers in the Forex, AUD/JPY gave its buyers a return that ranked 13th in terms of percentage change since the day prior. Here is a price chart of AUD/JPY.
AUD/JPY Technical Analysis
Notably, AUD/JPY is now close to its 20, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 91.1 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days AUD/JPY’s price has gone up 16 them. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!
The View From Around the Web
Of note is that traders in aggregate have opinions on AUDJPY, with 12 buy signals on our radar and 20 sell signals. This imputes a buy/sell ratio of 0.6, which is bearish. As for the rationale, technical traders seem to be citing the appearance of double top, trendline and wedge technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
🔸 4H CHART EXPLANATION:..🔸 Price broke the Descending Trendline and now it is bouncing at the Support Zone..🔸 It is moving inside of an Ascending Wedge..🔸 The potential Target Zone of the move is the upper trendline..🔸 Will look for a lower timeframe Bullish Setup. 🔸 DAILY CHART ANALYSIS:https://www.tradingview.com/x/pVMfJmUL/