USDJPY Down 6 Pips On Hourly Chart, Came Into Today Down For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
USDJPY
(Last Updated April 15, 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 |
|---|---|---|---|---|---|---|---|
| Japan BoJ Gov Kuroda Speech | NA | Japanese Yen | JPY | 2021-04-15 | 01:00 GMT | ||
| United States Continuing Jobless Claims | 03/Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 3700K | 3731K |
| United States Initial Jobless Claims | 10/Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 700K | 576K |
| United States NY Empire State Manufacturing Index | Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 19.5 | 26.3 |
| United States Retail Sales MoM | Mar 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 5.9% | 9.8% |
The Trend
A trend/countertrend situation exists on USDJPY, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 and 30 day timeframes. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
USDJPY Moving Averages
Across several time periods between 20 and 200 days, the trend on USDJPY has remained consistently bullish.
Below is a chart showing USDJPY’s price with its moving averages.
In terms of correlations over the past week for USDJPY, it has demonstrated the strongest correlation with EURUSD. If we zoom out to a two week basis, though, USDCHF is the asset most correlated to USDJPY. On the flip side, EURNOK has been the asset least correlated with USDJPY — but over the past two weeks, the asset least correlated with USDJPY has been USDHKD. The chart below illustrates USDJPY against its least correlated assets.
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The View From the Weekly Timeframe
At the time of this writing, USDJPY’s rate is down -7520 pips (-0.69%) from the week prior. Moreover, note that the weekly chart shows that USDJPY has seen 2 straight down weeks. 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. The weekly chart below shows USDJPY’s price action over the past year.
USDJPY: The Monthly View
Strongest trend on the 120 month timeframe.
USDJPY Down 15 Pips Over Past Hour, Came Into Today Down For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
USDJPY Up 7 Pips in Last Hour, Moves Down For the 2nd Consecutive Day; in an Uptrend Over Past 90 Days
Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down.
USDJPY Up 1 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Eyes 50 Day Average
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
USDJPY Down 2 Pips in Last Hour, Moves Down For the 4th Day In A Row; in an Uptrend Over Past 90 Days
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
USDJPY Up 3 Pips in Last Hour, Came Into Today Down For the 3rd Consecutive Day; in an Uptrend Over Past 90 Days
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
USDJPY Up 4 Pips Over Past Hour, Came Into Today Down For the 2nd Consecutive Day; in an Uptrend Over Past 90 Days
As for the rationale, technical traders seem to be citing the appearance of a moving average technical pattern.
USDJPY Up 4 Pips On Hourly Chart, 2 Day Up Streak Broken; Breaks Below 20 Day Average
Relative to other instruments in the forex asset class, usdjpy ranked 35th the day prior in terms of percentage price change.
USDJPY Down 3 Pips Over Past Hour, Moves Up For the 2nd Consecutive Day; in an Uptrend Over Past 90 Days
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
USDJPY Down 2 Pips in Last Hour, Crosses 20 Day Moving Average; in an Uptrend Over Past 30 Days
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.