(Last Updated September 16, 2021 2:14 GMT)
Currently, USDJPY’s rate is down -110 pips (-0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 41 pips (0.37%) since the day prior (opening today near 109.319), marking the 2nd straight day a decrease has occurred. Compared to its peers in the Forex, USDJPY gave its buyers a return that ranked 34th in terms of percentage change since the day prior. Let’s take a look at price chart of USDJPY.
USDJPY Technical Analysis
The first thing we should note is that the current price of USDJPY is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 200 day average, which is 42.3 pips away. For additional context, note that price has gone up 5 out of the past 10 days.