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
(Last Updated January 23, 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 Chicago Fed National Activity Index | Dec 2020 | US Dollar | USD | 2021-01-25 | 13:30 GMT | ||
| United States Dallas Fed Manufacturing Index | Jan 2021 | US Dollar | USD | 2021-01-25 | 15:30 GMT | ||
| Japan BoJ Monetary Policy Meeting Minutes | NA | Japanese Yen | JPY | 2021-01-25 | 23:50 GMT | ||
| United States S&P/Case-Shiller Home Price YoY | Nov 2020 | US Dollar | USD | 2021-01-26 | 14:00 GMT | 8.1% | |
| United States S&P/Case-Shiller Home Price MoM | Nov 2020 | US Dollar | USD | 2021-01-26 | 14:00 GMT |
The Trend
As for trends on USDJPY, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to sell for those interested in playing the longer term trend.
USDJPY Moving Averages
USDJPY’s moving averages suggest the trend on a number of time horizons is bearish.
The chart below illustrates.
Regarding USDJPY’s correlations over the past 7 days, it has been most correlated with EURGBP. Over the past 14 days, however, USDCHF is the asset most correlated to USDJPY. Alternatively, the asset least correlated with USDJPY over the past week has been AUDNZD, but over the past two weeks, AUDCHF 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 time of this writing, USDJPY’s rate is down -3660 pips (-0.35%) from the week prior. Moreover, note that this is the 2nd straight week USDJPY has seen its price head down. As for the trend on the weekly timeframe, we see the clearest trend 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 24 month timeframe.
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.
USDJPY Up 2 Pips in Last Hour, 2 Day Down Streak Broken; in a Downtrend Over Past 30 Days
This is a reversal of the price action on the previous hour, in which price moved down.
USDJPY Down 2 Pips On Hourly Chart; Came Into Today Down For the 2nd Day In A Row
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 in Last Hour, 2 Day Up Streak Broken; is Inching Close to 20 Day Average
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
USDJPY Up 8 Pips On Hourly Chart, Moves Up For the 2nd Straight Day; Eyes 20 and 50 Day Averages
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
USDJPY Up 4 Pips Over Past Hour, in a Downtrend Over Past 14 Days; Eyes 20 Day Average
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
USDJPY Down 1 Pips Over Past Hour; Eyes 20 Day Average
This move is a reversal from the hour prior, which saw price move up.