AUDJPY Up 5 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Price Base in Formation Over Past 14 Days

Hourly Update

(Last Updated April 6, 2021 2:14 GMT)

Currently, AUDJPY’s rate is up 460 pips (0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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)

The choppiness in the recent daily price action of AUDJPY continues; to start today, it came in at a price of 84.366, up 12 pips (0.14%) since the day prior. Compared to its peers in the Forex, AUDJPY gave its buyers a return that ranked 14th in terms of percentage change since the day prior. Below is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

Coming into today the current price of AUDJPY is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 14 days AUDJPY’s price has gone up 7 them.