USD/JPY Down 21 Pips On Hourly Chart, 3 Day Up Streak Broken; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated June 23, 2022 1:36 GMT)

Currently, USDJPY’s rate is down -2140 pips (-0.16%) from the hour prior. USDJPY has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. 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)

A moment of silence, please, for the end of USDJPY’s 3 day up streak; price ended the day prior down 43 pips (-0.31%) to finish the day at a rate of 135.914. Compared to its peers in the Forex, USDJPY gave its buyers a return that ranked 26th in terms of percentage change since the day prior. Here is a price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days.