(Last Updated March 31, 2021 0:14 GMT)
At the time of this writing, AUDJPY’s rate is down -20 pips (0%) 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 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on AUDJPY. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 entered today at 83.889, up 98 pips (1.19%) from the day prior. AUDJPY outperformed all 39 assets in the Forex asset class the day prior. Congrats to its holders! Let’s take a look at price chart of AUDJPY.
AUDJPY Technical Analysis
First things first: AUDJPY crossed above its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days AUDJPY’s price has gone up 17 them.