USDJPY Up 2 Pips Over Past Hour, is Inching Close to 20 and 50 Day Averages; Pin Bar Pattern Appearing on Chart
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
USDJPY
(Last Updated January 12, 2021)
Welcome to the news page for USDJPY (USDJPY). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for USDJPY
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| United States Fed Bostic Speech | NA | US Dollar | USD | 2021-01-12 | 14:30 GMT | ||
| United States Fed Brainard Speech | NA | US Dollar | USD | 2021-01-12 | 14:35 GMT | ||
| United States Fed Bostic Speech | NA | US Dollar | USD | 2021-01-12 | 16:00 GMT | ||
| United States Fed Kaplan Speech | NA | US Dollar | USD | 2021-01-12 | 16:00 GMT | ||
| United States Fed Mester Speech | NA | US Dollar | USD | 2021-01-12 | 17:00 GMT |
The Trend
If we observe the 90 and 30 day timeframes, we see a downtrend in place for USDJPY.
USDJPY Moving Averages
USDJPY’s moving averages tell a multi-facted story about its trend. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 20 are bearish, suggesting the trend is generally downward, save for a spike that occurred about 3 weeks ago. Moreover, it should also be noted that the 20 SMA just turned bullish today.
The chart below illustrates.
In terms of correlations over the past week for USDJPY, it has demonstrated the strongest correlation with USDCHF. USDCHF 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, GBPNZD has been the asset least correlated with USDJPY — but if we observe the prior two weeks, AUDJPY 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.
.
The View From the Weekly Timeframe
At the moment, USDJPY’s rate is up 2870 pips (0.28%) from the week prior. Moreover, note that this is the 2nd straight week USDJPY has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. USDJPY’s weekly price action over the past 52 weeks can be seen via the chart below.
USDJPY: The Monthly View
Monthly trend: strongest on the 24 month timeframe.
USDJPY Down 2 Pips Over Past Hour, is Inching Close to 20 and 50 Day Averages; Pin Bar Pattern Appearing on Chart
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.
USDJPY Up 9 Pips Over Past Hour, in a Downtrend Over Past 90 Days; is Inching Close to 20 and 50 Day Averages
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down.
USDJPY Down 7 Pips Over Past Hour, 4 Day Up Streak Snapped; Breaks Below 50 Day Average
Compared to its peers in the forex, usdjpy gave its buyers a return that ranked 31st in terms of percentage change since yesterday.
USDJPY Up 7 Pips in Last Hour, Entered Today Up For the 4th Day In A Row; Crosses 50 Day Moving Average
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.
USDJPY Up 5 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Breaks Above 20 Day Average
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down.
USDJPY Down 1 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Eyes 20 Day Average
Price action traders may also wish to note that we see a pin bar candlestick pattern on usdjpy.
USDJPY Down 4 Pips On Hourly Chart, in a Downtrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart
Relative to other instruments in the forex asset class, usdjpy ranked 19th the previous day in terms of percentage price change.
USDJPY Down 3 Pips in Last Hour, in a Downtrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart
Compared to its peers in the forex, usdjpy gave its buyers a return that ranked 19th in terms of percentage change since the previous day.
USDJPY Down 15 Pips in Last Hour, 2 Day Down Streak Ended; Eyes 20 Day Average
It’s been a feast for bears operating on an hourly timeframe, as usdjpy has now gone down 4 of the past 5 hours.