AUDJPY Down 29 Pips On Hourly Chart, 2 Day Down Streak Broken; Crosses 20 Day Moving Average

Hourly Update

(Last Updated September 10, 2020 16:13 GMT)

Currently, AUDJPY’s rate is down -2900 pips (-0.37%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 200 hour moving average has been crossed, with price now being below it. 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)

The back and forth price flow continues for AUDJPY, which started today off at 77.304, up 84 pips 1.1% from the day prior. Out of the 40 instruments in the Forex asset class, AUDJPY ended up ranking 3rd for the day in terms of price change. Let’s take a look at price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

Notably, AUDJPY crossed above its 20 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days AUDJPY’s price has gone up 15 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDJPY, with 16 buy signals on our radar and 14 sell signals. This imputes a buy/sell ratio of 1.14, which is neutral. As for the rationale, technical traders seem to be citing the appearance of divergence and fibonacci technical patterns. Here’s a piece we found on tradingview.com that we thought you might enjoy.


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