AUD/JPY Up 14 Pips in Last 4 Hours, 3 Day Up Streak Snapped; in a Downtrend Over Past 90 Days

AUD/JPY 4 Hour Price Update

Updated March 26, 2020 05:15 AM GMT (01:15 AM EST)

AUD/JPY, which opened the current 4 hour candle priced near 65.544, is up 14 pips 0.21% since the previous 4 hours, marking a reversal from the candle prior — and the end of a 4 four-hour candle negative run. Out of the 40 instruments in the Forex asset class, AUD/JPY ended up ranking 14th for the four-hour candle in terms of price change.

AUD/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 3 up days, AUD/JPY snaps its streak, falling 93 pips (-1.4%) over the past day to close at an exchange rate of 65.413. Compared to its peers in the Forex, AUD/JPY gave its buyers a return that ranked 33rd in terms of percentage change since the previous day. Here is a price chart of AUD/JPY.

AUD/JPY Technical Analysis

The first thing we should note is that AUD/JPY is now close to its 20 day averages, located at 66.5346 respectively, and thus may be at a key juncture along those timeframes. Volatility for AUD/JPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 7 out of the past 14 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDJPY, with 18 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 3, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

So here is our analysis on AUDJPY….Its a pretty simple analysis….So as per our analysis the pair will continue its upwards journey till it reaches its resistance.