USD/JPY Up 10 Pips in Last Hour, Came Into Today Up For the 3rd Consecutive Day; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated June 8, 2022 1:37 GMT)

Currently, USDJPY’s rate is up 1020 pips (0.08%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as USDJPY has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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)

USDJPY is up 56 pips (0.43%) since yesterday (opening today near 132.778), marking the 3rd consecutive day it has gone up. Compared to its peers in the Forex, USDJPY gave its buyers a return that ranked 16th in terms of percentage change since yesterday. Here is a price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 14 days USDJPY’s price has gone up 9 them.