USDJPY Up 1 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Moves Down For the 2nd Consecutive Day

Hourly Update

(Last Updated October 13, 2020 2:15 GMT)

At the moment, USDJPY’s rate is up 110 pips (0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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 is down 27 pips (0.25%) since the day prior (opening today near 105.327), marking the 2nd consecutive day a decline has happened. Relative to other instruments in the Forex asset class, USDJPY ranked 28th the day prior in terms of percentage price change. Below is a price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDJPY crossed below its 20 day moving average yesterday. Volatility for USDJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 8 out of the past 14 days.