AUDJPY Up 3 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated April 1, 2021 0:14 GMT)

At the moment, AUDJPY’s rate is up 310 pips (0.04%) 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 20 hour timeframe. 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 is up 2 pips (0.02%) since yesterday (opening today near 83.909), marking the 2nd straight day an increase has occurred. Out of the 39 instruments in the Forex asset class, AUDJPY ended up ranking 22nd for the day in terms of price change. Let’s take a look at price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

The first thing we should note is that AUDJPY is now close to its 20 and 50 day averages, located at 83.7879 and 82.3557 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. For additional context, note that price has gone up 17 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.