(Last Updated November 15, 2021 18:13 GMT)
At the moment, USDJPY’s rate is down -130 pips (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move 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 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)
USDJPY entered today at 114.012, up 10 pips (0.09%) from yesterday. Compared to its peers in the Forex, USDJPY gave its buyers a return that ranked 16th in terms of percentage change since yesterday. Let’s take a look at price chart of USDJPY.
USDJPY Technical Analysis
Notably, USDJPY is now close to its 20, 50 and 100 day averages, located at 113.7716, 112.6608 and 111.2685 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 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 7 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.