AUD/JPY Up 3 Pips Over Past Hour, Moves Up For the 2nd Consecutive Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 16, 2021 1:42 GMT)

At the time of this writing, AUDJPY’s rate is up 260 pips (0.03%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDJPY has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend 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)

AUDJPY is up 41 pips (0.49%) since the previous day (opening today near 83.87), marking the 2nd consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, AUDJPY ranked 6th the previous day in terms of percentage price change. Below is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

The first thing we should note is that AUDJPY is now close to its 20, 50, 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 20 day average, which is 82.7 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 14 days AUDJPY’s price has gone up 8 them.