USD/JPY Down 25 Pips in Last Hour, Moves Down For the 2nd Straight Day; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated November 24, 2022 1:37 GMT)

At the moment, USDJPY’s rate is down -2490 pips (-0.18%) from the hour prior. The hourly chart shows that USDJPY has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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)

USDJPY is down 188 pips (1.33%) since yesterday (opening today near 139.327), marking the 2nd straight day it has gone down. Compared to its peers in the Forex, USDJPY gave its buyers a return that ranked 37th in terms of percentage change since yesterday. Below is a price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

First things first: USDJPY crossed below its 100 day moving average 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 100 day average, which is 177.8 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 14 days USDJPY’s price has gone up 7 them.