AUDJPY Up 9 Pips On Hourly Chart, 2 Day Down Streak Snapped; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated November 11, 2021 3:12 GMT)

At the time of this writing, AUDJPY’s rate is up 930 pips (0.11%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 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 choppiness in the recent daily price action of AUDJPY continues; to start today, it came in at a price of 84.092, up 19 pips (0.23%) since the day prior. Out of the 39 instruments in the Forex asset class, AUDJPY ended up ranking 15th for the day in terms of price change. Here is a price chart of AUDJPY.

AUDJPY

AUDJPY Technical Analysis

Coming into today AUDJPY is now close to its 20, 50 and 200 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 79.2 pips away. Volatility for AUDJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 6 out of the past 10 days.