USDJPY

(Last Updated May 28, 2020)

Hello! This is the news page for USDJPY. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

A trend/countertrend situation exists on USDJPY, in which an uptrend exists on shorter timeframes but a downtrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.

USDJPY Moving Averages

Nuances in the trend on USDJPY can be understood by observing the behavior of its moving averages. Of the 20, 50, 100, and 200 day averages — three of them (all but the 100) — are bullish, suggesting the trend is generally upward, save for a drop that occurred about 3 months ago. Moreover, it should also be noted that the 50 SMA just turned bullish today.

Below is a chart showing USDJPY’s price with its moving averages.

As for correlation, In terms of correlations over the past week for USDJPY, it has demonstrated the strongest correlation with EURTRY. If we zoom out to a two week basis, though, TRYJPY is the asset most correlated to USDJPY. Alternatively, the asset least correlated with USDJPY over the past week has been USDSEK, but if we observe the prior two weeks, GBPCHF has been the asset least correlated with USDJPY. See the chart below to observe the recent price action in USDJPY versus those of assets it hasn’t been well correlated with.

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