USDJPY Down 3 Pips Over Past Hour; Breaks Below 100 Day Average

Hourly Update

(Last Updated July 30, 2021 10:14 GMT)

Currently, USDJPY’s rate is down -250 pips (-0.02%) from the hour prior. The hourly chart shows that USDJPY has seen 2 straight down hours. Regarding the trend, note that the strongest trend 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 entered today at 109.412, down 47 pips (0.43%) from the day prior. Relative to other instruments in the Forex asset class, USDJPY ranked 31st the day prior in terms of percentage price change. Let’s take a look at 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 21.9 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. For additional context, note that price has gone down 8 out of the past 14 days.