AUDJPY Up 6 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; is Inching Close to 20 Day Average

Hourly Update

(Last Updated April 9, 2021 3:14 GMT)

At the moment, AUDJPY’s rate is up 560 pips (0.07%) from the hour prior. AUDJPY has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 10 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 20, 50, 100 and 200 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 entered today at 83.715, up 9 pips (0.1%) from the previous day. Compared to its peers in the Forex, AUDJPY gave its buyers a return that ranked 11th in terms of percentage change since the previous day. The price chart of AUDJPY below illustrates.

AUDJPY

AUDJPY Technical Analysis

Notably, AUDJPY is now close to its 20 and 50 day averages, located at 83.9485 and 82.9098 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 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days AUDJPY’s price has gone up 16 them.