(Last Updated February 24, 2021 0:16 GMT)
At the moment, USDJPY’s rate is down -50 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 20, 50, 100 and 200 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 45 pips (0.43%) since the previous day (opening today near 104.97), marking the 4th straight day a decrease has occurred. Compared to its peers in the Forex, USDJPY gave its buyers a return that ranked 37th in terms of percentage change since the previous day. The price chart of USDJPY below illustrates.
USDJPY Technical Analysis
First things first: USDJPY crossed below its 20 and 200 day moving averages 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 200 day average, which is 13 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 14 days.