USDJPY Down 7 Pips Over Past Hour, 4 Day Up Streak Snapped; Breaks Below 50 Day Average

Hourly Update

(Last Updated January 13, 2021 2:15 GMT)

At the time of this writing, USDJPY’s rate is down -740 pips (-0.07%) from the hour prior. USDJPY has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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, which opened today priced near 103.747, is down 49 pips 0.47% since yesterday, marking a reversal from the day prior — and the end of a 4 day positive run. Compared to its peers in the Forex, USDJPY gave its buyers a return that ranked 31st in terms of percentage change since yesterday. Let’s take a look at price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

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