(Last Updated April 9, 2021 3:15 GMT)
At the moment, USDJPY’s rate is down -200 pips (-0.02%) from the hour prior. This is the 2nd hour in a row USDJPY has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. 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 back and forth price flow continues for USDJPY, which started today off at 109.326, down 52 pips 0.47% from the previous day. Out of the 39 instruments in the Forex asset class, USDJPY ended up ranking 31st for the day in terms of price change. The price chart of USDJPY below illustrates.
USDJPY Technical Analysis
Notably, USDJPY crossed below its 20 day moving average yesterday. 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 up 6 them.