AUD/JPY Up 25 Pips On Hourly Chart, Underperforms All Forex; But Still in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated July 29, 2022 1:36 GMT)

At the time of this writing, AUDJPY’s rate is up 2550 pips (0.27%) from the hour prior. The hourly chart shows that AUDJPY has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDJPY. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 93.84, down 168 pips (1.76%) since yesterday. Those trading within the Forex asset class should know that AUDJPY was the worst performer in the class. Let’s take a look at price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

The first thing we should note is that AUDJPY is now close to its 20, 50 and 100 day averages, located at 93.764, 93.4781 and 92.3977 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days AUDJPY’s price has gone up 15 them.