AUD/JPY Down 18 Pips On 4 Hour Chart, in an Uptrend Over Past 90 Days; Doji and Pin Bar Patterns Appearing on Chart

AUD/JPY 4 Hour Price Update

Updated June 24, 2020 01:14 PM GMT (09:14 AM EST)

AUD/JPY is down 18 pips (0.24%) since the previous 4 hours (opening the current 4 hour candle near 73.576), marking the 2nd candle in a row it has gone down. Compared to its peers in the Forex, AUD/JPY gave its buyers a return that ranked 34th in terms of percentage change since the previous 4 hours.

AUD/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for AUD/JPY, which started today off at 73.86, up 5 pips 0.07% from the day prior. Relative to other instruments in the Forex asset class, AUD/JPY ranked 13th the day prior in terms of percentage price change. Let’s take a look at price chart of AUD/JPY.

AUD/JPY Technical Analysis

Notably, AUD/JPY is now close to its 20 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 20 day average, which is 55.5 pips away. Volatility for AUD/JPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days AUD/JPY’s price has gone up 17 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDJPY, with 16 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 1.6, which is bullish. As for the rationale, technical traders seem to be citing the appearance of channel and triangle technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

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