(Last Updated September 22, 2021 6:13 GMT)
At the time of this writing, USDJPY’s rate is up 250 pips (0.02%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as USDJPY has now gone up 8 of the past 10 hours. Regarding the trend, note that the strongest trend 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 down 23 pips (0.21%) since yesterday (opening today near 109.151), marking the 2nd consecutive day a decrease has occurred. Out of the 39 instruments in the Forex asset class, USDJPY ended up ranking 20th for the day in terms of price change. Let’s take a look at price chart of USDJPY.
USDJPY Technical Analysis
Notably, USDJPY is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 11.2 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. Or to simplify this another way, note that out of the past 30 days USDJPY’s price has gone up 16 them.