USDJPY Down 4 Pips On Hourly Chart, Makes Big Move Relative to Past Month; Came Into Today Down For the 2nd Straight Day

Hourly Update

(Last Updated September 17, 2021 1:14 GMT)

At the time of this writing, USDJPY’s rate is down -400 pips (-0.04%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDJPY has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDJPY. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 is down 41 pips (0.37%) since the previous day (opening today near 109.319), marking the 2nd straight day a decrease has occurred. Out of the 39 instruments in the Forex asset class, USDJPY ended up ranking 34th for the day in terms of price change. Below is a price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

Coming into today USDJPY is now close to its 20, 50, 100 and 200 day averages, located at 109.8893, 109.8729, 109.9814 and 108.896 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 42.3 pips away. For additional context, note that price has gone up 7 out of the past 14 days.