AUD/JPY 4 Hour Price Update
Updated March 24, 2020 03:16 AM GMT (11:16 PM EST)
AUD/JPY is up 71 pips (1.1%) since the previous 4 hours (opening the current 4 hour candle near 65.143), marking the 3rd candle in a row an upward move has occurred. Out of the 36 instruments in the Forex asset class, AUD/JPY ended up ranking 3rd for the four-hour candle in terms of price change.
AUD/JPY Daily New York Session Recap
Updated 21:00 GMT (17:00 EST)
AUD/JPY is up 67 pips (1.05%) since the close of the previous day’s New York session (opening today’s post-New York session near 64.253), marking the 2nd day in a row an increase has occurred. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 8.78% from the day prior, but up 62.87% from the same day the week before. Relative to other instruments in the Forex asset class, AUD/JPY ranked 11th the close of the previous day’s New York session in terms of percentage price change. Let’s take a look at price chart of AUD/JPY.
AUD/JPY Technical Analysis
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 6 out of the past 10 days.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on AUDJPY, with 11 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 1.1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
AUDJPY Potential Bullish Movementwe are waiting for a momentum candle close above 65.8 to buy this oneReason:1- Inverse Head and Shoulders Pattern (in orange)2- Objective Trendline (in blue)3- Support from Daily 60.00 (in purple)Three confluences are enough to consider Buying AUDJPY, after a break below 65.8 (in gray)