AUD/JPY Up 4 Pips in Last Hour, Came Into Today Up For the 2nd Straight Day; Breaks Above 50 Day Average

Hourly Update

(Last Updated September 24, 2021 1:43 GMT)

At the moment, AUDJPY’s rate is up 380 pips (0.05%) from the hour prior. The hourly chart shows that AUDJPY has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 an uptrend 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 111 pips (1.39%) since yesterday (opening today near 80.541), marking the 2nd straight day an upward move has occurred. Out of the 39 instruments in the Forex asset class, AUDJPY ended up ranking 4th for the day in terms of price change. Here is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

First things first: AUDJPY crossed above its 50 day moving average yesterday. 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 0.7 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days AUDJPY’s price has gone down 19 them.