AUD/JPY Up 6 Pips On Hourly Chart, 2 Day Down Streak Snapped; Breaks Above 20 and 100 Day Averages

Hourly Update

(Last Updated December 16, 2021 1:36 GMT)

Currently, AUDJPY’s rate is up 610 pips (0.07%) from the hour prior. AUDJPY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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)

The back and forth price flow continues for AUDJPY, which started today off at 81.859, up 106 pips 1.31% from the previous day. Relative to other instruments in the Forex asset class, AUDJPY ranked 3rd the previous day in terms of percentage price change. The price chart of AUDJPY below illustrates.

AUDJPY

AUDJPY Technical Analysis

Notably, AUDJPY crossed above its 20 and 100 day moving averages 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 6.1 pips away. It should be noted, though, the 50 and 100 day simple moving averages turned upwards, which may be a bullish sign. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 14 days AUDJPY’s price has gone down 8 them.