(Last Updated May 2, 2022 1:34 GMT)
At the moment, AUDJPY’s rate is up 2220 pips (0.24%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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)
The choppiness in the recent daily price action of AUDJPY continues; to start today, it came in at a price of 91.686, down 128 pips (1.38%) since the previous day. On a relative basis, AUDJPY was the worst performer out of all 39 of the assets in the Forex asset class. Here is a price chart of AUDJPY.
AUDJPY Technical Analysis
Notably, the current price of AUDJPY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days AUDJPY’s price has gone down 7 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.