USDJPY Down 2 Pips On Hourly Chart, Crosses 20, 50 and 100 Day Moving Averages; Price Base in Formation Over Past 14 and 30 Days

Hourly Update

(Last Updated September 15, 2021 1:13 GMT)

At the moment, USDJPY’s rate is down -150 pips (-0.01%) from the hour prior. USDJPY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend 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 entered today at 109.985, up 10 pips (0.09%) from yesterday. Compared to its peers in the Forex, USDJPY gave its buyers a return that ranked 15th in terms of percentage change since yesterday. 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, 50 and 100 day moving averages yesterday. 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 100 day average, which is 1.3 pips away. It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign. Also of note is that on the 14 and 30 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 10 days USDJPY’s price has gone up 5 them.