USDJPY Up 15 Pips Over Past Hour; Eyes 20 and 50 Day Averages

Hourly Update

(Last Updated June 2, 2021 2:15 GMT)

Currently, USDJPY’s rate is up 1450 pips (0.13%) from the hour prior. The hourly chart shows that USDJPY has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100, 20 and 50 hour moving averages have been crossed, so that price is now turning above them. 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)

The choppiness in the recent daily price action of USDJPY continues; to start today, it came in at a price of 109.496, up 1 pips (0.01%) since yesterday. Out of the 39 instruments in the Forex asset class, USDJPY ended up ranking 15th for the day in terms of price change. Below is a price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

Notably, the current price of USDJPY is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days USDJPY’s price has gone down 8 them.