USD/JPY 4 Hour Price Update
Updated March 26, 2020 05:13 AM GMT (01:13 AM EST)
USD/JPY is down 11 pips (0.1%) since the last 4 hour candle (opening the current 4 hour candle near 110.723), marking the 3rd candle in a row a decrease has occurred. Relative to other instruments in the Forex asset class, USD/JPY ranked 31st the last 4 hour candle in terms of percentage price change.
USD/JPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
USD/JPY is down 16 pips (0.15%) since the previous day (opening today near 110.908), marking the 2nd day in a row a decline has happened. Relative to other instruments in the Forex asset class, USD/JPY ranked 20th the previous day in terms of percentage price change. Here is a price chart of USD/JPY.
USD/JPY Technical Analysis
Coming into today USD/JPY is now close to its 50, 100 and 200 day averages, located at 108.8933, 109.0563 and 108.3944 respectively, and thus may be at a key juncture along those timeframes. 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 100 day average, which is 185.2 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 14 days USD/JPY’s price has gone up 9 them.
The View From Around the Web
Of note is that traders in aggregate have opinions on USDJPY, with 7 buy signals on our radar and 18 sell signals. This imputes a buy/sell ratio of 0.39, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
USDPY has been in an uptrend and its now at the buy zone….I will be buying to the top of the channel but trail profits.