AUDJPY Up 1 Pips On Hourly Chart, Breaks Above 100 Day Average; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated October 12, 2021 0:13 GMT)

At the time of this writing, AUDJPY’s rate is up 120 pips (0.01%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as AUDJPY has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar 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 choppiness in price, as the 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 37 pips (0.45%) since yesterday (opening today near 82.035), marking the 2nd day in a row an increase has occurred. Compared to its peers in the Forex, AUDJPY gave its buyers a return that ranked 6th in terms of percentage change since yesterday. Let’s take a look at price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

First things first: AUDJPY crossed above its 100 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 100 day average, which is 18.9 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 7 out of the past 10 days.