(Last Updated March 2, 2021 23:14 GMT)
At the time of this writing, AUDJPY’s rate is down -1330 pips (-0.16%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AUDJPY has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on AUDJPY. Given that we see an uptrend 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 82.973, up 88 pips (1.08%) from the previous day. Relative to other instruments in the Forex asset class, AUDJPY ranked 5th the previous day in terms of percentage price change. Below is a price chart of AUDJPY.
AUDJPY Technical Analysis
The first thing we should note is that AUDJPY is now close to its 20 day averages, located at 81.8792 respectively, and thus may be at a key juncture along those timeframes. 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. Or to simplify this another way, note that out of the past 10 days AUDJPY’s price has gone up 7 them.