USDJPY Up 3 Pips in Last Hour, 6 Day Up Streak Snapped; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated February 19, 2021 0:16 GMT)

At the time of this writing, USDJPY’s rate is up 270 pips (0.03%) from the hour prior. This is the 2nd consecutive hour USDJPY has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend 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)

After 6 up days, USDJPY snaps its streak, falling 20 pips (-0.19%) over the past day to close at an exchange rate of 105.877. Compared to its peers in the Forex, USDJPY gave its buyers a return that ranked 23rd in terms of percentage change since the day prior. Here is a price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

Coming into today the current price of USDJPY is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 74.4 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 18 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!