USDJPY

(Last Updated July 10, 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

Over the past 90 days, a clear trend does not seem to be in place for USDJPY. As such, this might be an opportunity for rangebound traders, or trend traders focused on longer timeframes.

USDJPY Moving Averages

The moving averages on USDJPY summarize its price action in an interesting way. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 200 are bullish, suggesting the trend is generally upward, save for a decline that occurred about 6 months ago. Moreover, today we saw the 20 and 100 moving average turn bullish.

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

Regarding USDJPY’s correlations over the past 7 days, it has demonstrated the strongest correlation with TRYJPY. TRYJPY is the asset with which USDJPY has been most correlated with over the past two weeks as well, so this may be a recurring pattern. Alternatively, the asset least correlated with USDJPY over the past week has been USDMXN, but if we observe the prior two weeks, NZDJPY has been the asset least correlated with USDJPY. The chart below illustrates USDJPY against its least correlated assets.

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The View From the Weekly Timeframe

At the moment, USDJPY’s rate is down -0.282 (-0.26%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move up. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly timeframe suggest a bearishess in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. USDJPY’s weekly price action over the past 52 weeks can be seen via the chart below.