USD/JPY Down 9 Pips in Last Hour; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated June 16, 2022 1:37 GMT)

At the moment, USDJPY’s rate is down -850 pips (-0.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDJPY. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)

The back and forth price flow continues for USDJPY, which started today off at 134.16, down 104 pips 0.77% from the day prior. Out of the 39 instruments in the Forex asset class, USDJPY ended up ranking 33rd for the day in terms of price change. Let’s take a look at price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 days.