USDJPY Down 6 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Entered Today Down For the 2nd Day In A Row

Hourly Update

(Last Updated September 10, 2021 2:14 GMT)

At the moment, USDJPY’s rate is down -570 pips (-0.05%) 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 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 is down 45 pips (0.41%) since the previous day (opening today near 109.779), marking the 2nd day in a row a decline has happened. Compared to its peers in the Forex, USDJPY gave its buyers a return that ranked 32nd in terms of percentage change since the previous day. Below is a price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

Notably, USDJPY crossed below its 20, 50 and 100 day moving averages yesterday. 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 20 day average, which is 11.2 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 18 out of the past 30 days.