USDJPY Up 5 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Breaks Above 20 Day Average

Hourly Update

(Last Updated January 8, 2021 3:15 GMT)

Currently, USDJPY’s rate is up 450 pips (0.04%) from the hour prior. The hourly chart shows that USDJPY has seen 2 straight up hours. 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 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 up 76 pips (0.74%) since the previous day (opening today near 103.773), marking the 2nd straight day an increase has occurred. Compared to its peers in the Forex, USDJPY gave its buyers a return that ranked 3rd in terms of percentage change since the previous day. Here is a price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

Notably, USDJPY crossed above its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 16 out of the past 30 days.