USD/JPY Down 36 Pips On Hourly Chart, 3 Day Up Streak Snapped; is Inching Close to 20 Day Average

Hourly Update

(Last Updated November 2, 2022 1:36 GMT)

At the time of this writing, USDJPY’s rate is down -3600 pips (-0.24%) from the hour prior. USDJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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, which opened today priced near 147.894, is down 84 pips 0.56% since the previous day, marking a reversal from the day prior — and the end of a 3 day positive run. Out of the 39 instruments in the Forex asset class, USDJPY ended up ranking 38th for the day in terms of price change. Here 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 147.4099 and 144.2997 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 10 out of the past 14 days.