This is the 2nd straight hour audjpy has seen its price head up.
This imputes a buy/sell ratio of 3, which is bullish.
Of note is that the 200 hour changed directions on audjpy; it is now pointing down.
This is the 2nd consecutive hour audjpy has seen its price head up.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
This is a reversal of the price action on the previous hour, in which price moved down.
Price action traders may also wish to note that we see a pin bar candlestick pattern on audjpy.
This move is a reversal from the hour prior, which saw price move up.
Relative to other instruments in the forex asset class, audjpy ranked 25th yesterday in terms of percentage price change.