USD/JPY Down 25 Pips On Hourly Chart; Moves Down For the 2nd Day In A Row

Hourly Update

(Last Updated June 17, 2022 1:36 GMT)

At the time of this writing, USDJPY’s rate is down -2470 pips (-0.19%) from the hour prior. USDJPY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 20 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 162 pips (1.21%) since the day prior (opening today near 132.537), marking the 2nd day in a row a decline has happened. Relative to other instruments in the Forex asset class, USDJPY ranked 31st the day prior in terms of percentage price change. Below is a price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

Coming into today USDJPY is now close to its 20 and 50 day averages, located at 130.7933 and 129.3589 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 up 15 out of the past 30 days.