AUDJPY Up 5 Pips On Hourly Chart, Entered Today Up For the 3rd Consecutive Day; Breaks Above 50 Day Average

Hourly Update

(Last Updated September 3, 2021 2:12 GMT)

At the time of this writing, AUDJPY’s rate is up 490 pips (0.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji 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. With that said, traders should also note the downtrend on the 10 hourly candle timeframe, so the meaning of the candles may require further exploration. 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 27 pips (0.33%) since the previous day (opening today near 81.35), marking the 3rd consecutive day it has gone up. Compared to its peers in the Forex, AUDJPY gave its buyers a return that ranked 9th in terms of percentage change since the previous day. Below is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

Notably, AUDJPY crossed above its 50 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 50 day average, which is 11.7 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed up. For additional context, note that price has gone up 15 out of the past 30 days.