USD/JPY Up 6 Pips in Last Hour, Moves Up For the 4th Straight Day; Breaks Above 100 Day Average

Hourly Update

(Last Updated November 22, 2022 1:37 GMT)

At the moment, USDJPY’s rate is up 580 pips (0.04%) 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. 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 178 pips (1.27%) since the previous day (opening today near 142.13901), marking the 4th straight day an upward move has occurred. USDJPY outperformed all 39 assets in the Forex asset class the previous day. Here is a price chart of USDJPY.

USDJPY

USDJPY Technical Analysis

Notably, USDJPY crossed above its 100 day moving average 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 112.1 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. For additional context, note that price has gone up 20 out of the past 30 days.