AUDJPY Up 4 Pips On Hourly Chart, Moves Down For the 4th Consecutive Day; Eyes 50 Day Average

Hourly Update

(Last Updated September 18, 2020 23:13 GMT)

At the moment, AUDJPY’s rate is up 360 pips (0.05%) from the hour prior. AUDJPY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

AUDJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUDJPY is down 8 pips (0.1%) since yesterday (opening today near 76.565), marking the 4th consecutive day a decline has happened. Relative to other instruments in the Forex asset class, AUDJPY ranked 30th yesterday in terms of percentage price change. Below is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

Coming into today AUDJPY is now close to its 20 and 50 day averages, located at 77.0412 and 76.2039 respectively, and thus may be at a key juncture along those timeframes. 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. Interestingly, a trend in the other direction exists on the 90 and 30 day timeframes, where price is headed up. Or to simplify this another way, note that out of the past 30 days AUDJPY’s price has gone down 18 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDJPY, with 11 buy signals on our radar and 16 sell signals. This imputes a buy/sell ratio of 0.69, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hi all traders,This is a video analysis on audjpy….I hope you like this video as i have updated some new levels which traders can take note of for next week selling in audjpy….As always, follow me on tradingviewLike and share this trade ideas with all your friends so that they can benefit from it too.


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram