(Last Updated November 5, 2021 23:12 GMT)
Currently, AUDJPY’s rate is up 210 pips (0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 back and forth price flow continues for AUDJPY, which started today off at 85.098, up 37 pips 0.44% from the previous day. Out of the 39 instruments in the Forex asset class, AUDJPY ended up ranking 7th for the day in terms of price change. The price chart of AUDJPY below illustrates.
AUDJPY Technical Analysis
Coming into today 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. 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 47.3 pips away. Volatility for AUDJPY 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 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 6 them.