USDJPY Down 1 Pips On Hourly Chart, 2 Day Up Streak Broken; Breaks Below 50 Day Average

Hourly Update

(Last Updated October 12, 2020 2:15 GMT)

At the moment, USDJPY’s rate is down -130 pips (-0.01%) from the hour prior. USDJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 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)

The back and forth price flow continues for USDJPY, which started today off at 105.594, down 42 pips 0.4% from yesterday. Out of the 40 instruments in the Forex asset class, USDJPY ended up ranking 27th for the day in terms of price change. Below 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 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 9 out of the past 14 days.