(Last Updated July 14, 2021 0:13 GMT)
Currently, AUDJPY’s rate is down -420 pips (-0.05%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)
AUDJPY is up 1 pips (0.01%) since the previous day (opening today near 82.51), marking the 2nd day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, AUDJPY ranked 20th the previous day in terms of percentage price change. Below is a price chart of AUDJPY.
AUDJPY Technical Analysis
The first thing we should note is that AUDJPY is now close to its 20, 50, 100 and 200 day averages, located at 83.3485, 84.1732, 84.0075 and 80.9714 respectively, and thus may be at a key juncture along those timeframes. 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 83.8 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days AUDJPY’s price has gone up 7 them.