USD/JPY Up 22 Pips Over Past Hour, Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated June 7, 2022 1:38 GMT)

Currently, USDJPY’s rate is up 2220 pips (0.17%) 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 up 140 pips (1.07%) since the previous day (opening today near 132.215), marking the 2nd day in a row an increase has occurred. Out of the 39 instruments in the Forex asset class, USDJPY ended up ranking 7th for the day in terms of price change. Let’s take a look at 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. For additional context, note that price has gone up 8 out of the past 14 days.