(Last Updated November 12, 2021 5:13 GMT)
At the moment, USDJPY’s rate is up 100 pips (0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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 is up 19 pips (0.17%) since the previous day (opening today near 114.053), marking the 2nd consecutive day it has gone up. Compared to its peers in the Forex, USDJPY gave its buyers a return that ranked 15th in terms of percentage change since the previous day. Below is a price chart of USDJPY.
USDJPY Technical Analysis
Coming into today USDJPY is now close to its 20 and 50 day averages, located at 113.7888 and 112.483 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 6 out of the past 10 days.