USDJPY Up 2 Pips in Last Hour, 2 Day Down Streak Broken; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated January 1, 2021 3:15 GMT)

At the time of this writing, USDJPY’s rate is up 240 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

USDJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for USDJPY, which started today off at 103.252, up 9 pips 0.09% from yesterday. Compared to its peers in the Forex, USDJPY gave its buyers a return that ranked 21st in terms of percentage change since yesterday. Here is a price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

The first thing we should note is that USDJPY is now close to its 20, 50 and 100 day averages, located at 103.6883, 104.1364 and 104.902 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 7 out of the past 14 days.