(Last Updated November 4, 2021 3:13 GMT)
At the moment, USDJPY’s rate is up 840 pips (0.07%) from the hour prior. The hourly chart shows that USDJPY has seen 3 straight up hours. Regarding the trend, note that the strongest trend 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)
The back and forth price flow continues for USDJPY, which started today off at 114.036, up 6 pips 0.05% from the previous day. Compared to its peers in the Forex, USDJPY gave its buyers a return that ranked 21st in terms of percentage change since the previous day. The price chart of USDJPY below illustrates.
USDJPY Technical Analysis
Coming into today USDJPY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Volatility for USDJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days USDJPY’s price has gone up 17 them.