(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:
| 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% |
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.
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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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.
Strongest trend on the 120 month timeframe.
Also of note is that on the 30 and 90 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
Price action traders may also wish to note that we see a doji candlestick pattern on usdjpy.
Volatility for usdjpy has been contracting over the past two weeks relative to volatility over the past month.
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
Compared to its peers in the forex, usdjpy gave its buyers a return that ranked 16th in terms of percentage change since yesterday.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
The closest is the 50 day average, which is 10.6 pips away.