USD/JPY Down 14 Pips Over Past Hour; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated June 6, 2022 1:37 GMT)

At the time of this writing, USDJPY’s rate is down -1390 pips (-0.11%) from the hour prior. The hourly chart shows that USDJPY has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 choppiness in the recent daily price action of USDJPY continues; to start today, it came in at a price of 130.814, up 87 pips (0.67%) since the day prior. Relative to other instruments in the Forex asset class, USDJPY ranked 2nd the day prior in terms of percentage price change. Below is a price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

Notably, USDJPY is now close to its 20 day averages, located at 128.7053 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. For additional context, note that price has gone down 15 out of the past 30 days.