AUDJPY Down 36 Pips in Last Hour; Entered Today Up For the 3rd Consecutive Day

Hourly Update

(Last Updated January 4, 2021 2:14 GMT)

At the moment, AUDJPY’s rate is down -3570 pips (-0.45%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 50 hour moving averages have been crossed, with price now being below them. 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 23 pips (0.29%) since yesterday (opening today near 79.506), marking the 3rd consecutive day an upward move has occurred. Out of the 40 instruments in the Forex asset class, AUDJPY ended up ranking 13th for the day in terms of price change. Below is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

The first thing we should note is that the current price of AUDJPY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for AUDJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 14 days.