(Last Updated June 1, 2021 2:15 GMT)
Currently, USDJPY’s rate is down -750 pips (-0.07%) from the hour prior. USDJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them with price now being below it. 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)
USDJPY entered today at 109.487, down 39 pips (0.35%) from the previous day. Compared to its peers in the Forex, USDJPY gave its buyers a return that ranked 35th in terms of percentage change since the previous day. The price chart of USDJPY below illustrates.
USDJPY Technical Analysis
Coming into today USDJPY is now close to its 20, 50 and 100 day averages, located at 109.184, 109.0495 and 108.258 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 6 out of the past 10 days.