AUD/JPY Down 10 Pips On 4 Hour Chart; Doji and Pin Bar Patterns Appearing on Chart

AUD/JPY 4 Hour Price Update

Updated July 02, 2020 01:14 AM GMT (09:14 PM EST)

AUD/JPY entered the current 4 hour candle at 74.211, down 10 pips (0.13%) from the last 4 hour candle. Relative to other instruments in the Forex asset class, AUD/JPY ranked 34th the last 4 hour candle in terms of percentage price change.

AUD/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for AUD/JPY, which started today off at 74.306, down 0 pips 0% from the day prior. Relative to other instruments in the Forex asset class, AUD/JPY ranked 20th the day prior in terms of percentage price change. Here is a price chart of AUD/JPY.

AUD/JPY Technical Analysis

Coming into today AUD/JPY is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 20 day average, which is 50.9 pips away. 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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days AUD/JPY’s price has gone down 7 them. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on AUDJPY, with 7 buy signals on our radar and 9 sell signals. This imputes a buy/sell ratio of 0.78, which is bearish. As for the rationale, technical traders seem to be citing the appearance of channel, double top and elliott wave technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

🔥 New signal 🔥🔥SELL AUDJPY @ 74.013🔻SL :74.700✅TP 73.000Date 01/07/2020JOIN OUR TELEGRAM CHANNEL https://t.me/daytradersignals