USD/JPY Down 7 Pips in Last Hour, Moves Down For the 2nd Straight Day; Crosses 50 Day Moving Average

Hourly Update

(Last Updated January 14, 2022 1:39 GMT)

At the moment, USDJPY’s rate is down -670 pips (-0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 is down 55 pips (0.48%) since yesterday (opening today near 114.116), marking the 2nd straight day it has gone down. Relative to other instruments in the Forex asset class, USDJPY ranked 37th yesterday in terms of percentage price change. Here is a price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

First things first: USDJPY crossed below its 50 day moving average yesterday. 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 8 out of the past 14 days.