(Last Updated January 4, 2021 2:15 GMT)
At the moment, USDJPY’s rate is down -1540 pips (-0.15%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDJPY has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 50 hour moving averages have been crossed, so that price is now turning below them. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
USDJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of USDJPY continues; to start today, it came in at a price of 103.252, up 9 pips (0.09%) since the previous day. Relative to other instruments in the Forex asset class, USDJPY ranked 21st the previous day in terms of percentage price change. Let’s take a look at price chart of USDJPY.
USDJPY Technical Analysis
Coming into today USDJPY is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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 6 out of the past 10 days.