(Last Updated May 13, 2022 1:36 GMT)
Currently, USDJPY’s rate is up 1340 pips (0.1%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 down 132 pips (1.02%) since the day prior (opening today near 128.52), marking the 4th straight day a decline has happened. Out of the 39 instruments in the Forex asset class, USDJPY ended up ranking 29th for the day in terms of price change. Below is a price chart of 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 up over that time. Or to simplify this another way, note that out of the past 10 days USDJPY’s price has gone down 6 them.