USDJPY Up 5 Pips in Last Hour; Breaks Above 50 Day Average

Hourly Update

(Last Updated October 8, 2020 2:15 GMT)

Currently, USDJPY’s rate is up 540 pips (0.05%) from the hour prior. This is the 2nd hour in a row USDJPY has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward 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 105.947, up 34 pips 0.33% from the day prior. Relative to other instruments in the Forex asset class, USDJPY ranked 16th the day prior in terms of percentage price change. Below is a price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

First things first: USDJPY crossed above its 50 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 17 out of the past 30 days.