Relative to other instruments in the forex asset class, aud/jpy ranked 13th the day prior in terms of percentage price change.
Volatility for aud/jpy has been contracting over the past two weeks relative to volatility over the past month.
The closest is the 200 day average, which is 103.1 pips away.
It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 and 90 day timeframes.
This imputes a buy/sell ratio of 1, which is neutral.
As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern.
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.
This imputes a buy/sell ratio of 0.21, which is bearish.
If we see a bullish pinbar at closing, then it is buy for me.
Relative to other instruments in the forex asset class, aud/jpy ranked 39th the day prior in terms of percentage price change.