USDJPY Down 2 Pips in Last Hour, Breaks Below 20 and 50 Day Averages; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated September 13, 2021 11:14 GMT)

At the moment, USDJPY’s rate is down -170 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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 entered today at 109.887, down 2 pips (0.02%) from yesterday. Compared to its peers in the Forex, USDJPY gave its buyers a return that ranked 24th in terms of percentage change since yesterday. Here is a price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDJPY crossed below its 20 and 50 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 50 day average, which is 0.1 pips away. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 17 out of the past 30 days.