(Last Updated January 6, 2021 2:15 GMT)
At the moment, USDJPY’s rate is down -430 pips (-0.04%) from the hour prior. USDJPY has seen its price go down 9 out of the past 10 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
USDJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
The back and forth price flow continues for USDJPY, which started today off at 103.106, down 15 pips 0.14% from the previous day. Relative to other instruments in the Forex asset class, USDJPY ranked 19th the previous day in terms of percentage price change. Here is a price chart of USDJPY.
USDJPY Technical Analysis
Coming into today USDJPY is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 6 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.