USDJPY Up 11 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; 2 Day Down Streak Broken

Hourly Update

(Last Updated November 11, 2021 3:13 GMT)

At the moment, USDJPY’s rate is up 1090 pips (0.1%) from the hour prior. The hourly chart shows that USDJPY has seen 3 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 entered today at 113.865, up 93 pips (0.82%) from the previous day. Out of the 39 instruments in the Forex asset class, USDJPY ended up ranking 6th for the day in terms of price change. Let’s take a look at price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDJPY crossed above its 20 day moving average yesterday. 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. Or to simplify this another way, note that out of the past 30 days USDJPY’s price has gone up 17 them.