USD/JPY Down 50 Pips, in an Uptrend Over Past 30 Days; Eyes 20 Day Average

USD/JPY Price Recap

USD/JPY is down 50 pips (0.45%) since yesterday (with its current price near 110.195), marking the 3rd day in a row a decrease has occurred. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 30.09% from the day prior, and up 186.14% from the same day the week before. Out of the 40 instruments in the Forex asset class, USD/JPY ended up ranking 35th for the day in terms of day-over-day price change. Here is a price chart of USD/JPY.

USD/JPY Technical Analysis

Coming into today the current price of USD/JPY is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for USD/JPY has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. 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.