(Last Updated October 15, 2021 1:14 GMT)
At the time of this writing, USDJPY’s rate is up 1000 pips (0.09%) from the hour prior. This is the 2nd hour in a row USDJPY has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly 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.
USDJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
After 5 up days, USDJPY snaps its streak, falling 25 pips (-0.22%) over the past day to close at an exchange rate of 113.31. Out of the 39 instruments in the Forex asset class, USDJPY ended up ranking 28th for the day in terms of price change. Below is a price chart of USDJPY.
USDJPY Technical Analysis
The first thing we should note is that USDJPY is now close to its 20 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 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days USDJPY’s price has gone up 9 them.