(Last Updated January 8, 2021 3:14 GMT)
At the moment, AUDJPY’s rate is down -220 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. 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 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
AUDJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
AUDJPY is up 24 pips (0.3%) since the day prior (opening today near 80.592), marking the 3rd day in a row it has gone up. Compared to its peers in the Forex, AUDJPY gave its buyers a return that ranked 11th in terms of percentage change since the day prior. The price chart of AUDJPY below illustrates.
AUDJPY Technical Analysis
Coming into today AUDJPY is now close to its 20 day averages, located at 78.7896 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 30 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 19 them.