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USDJPY 4H & 30min charts in a ~1000 pips downtrend

   March 7, 2022
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USDJPY
4H Chart

USDJPY, trading the 4H & 30min diagrams, from 115.700 to 114.700 in just 7 periods and a total ~1000 pips.

USDJPY
30min Chart

30min diagram give us more details, from 16:30-18:30 the main downtrend. Let’s not forget the corellatiin between USDJPY & Gold.

About 1.1% profit when trading at 1:30 leverage.

More about USD/JPY (U.S. Dollar/Japanese Yen)?

USD/JPY is the ticker for the currency exchange rate between the U.S. dollar and Japanese Yen¥, how many Japanese yen needed to purchase one US$, one of the most liquid and traded currency pairs in the world’s Forex markets

The yen is considered a safe currency, meaning that in times of market uncertainty, investors seek refuge in the Japanese yen.

On the other hand, the yen goes weaken when the global economy is strong and stock markets are  positive.

USD/JPY Correlations

The USD/JPY has a positive correlation with USD/CHF because, the Swiss franc is another currency considered safe for investors. Besides, USD/JPY has negatively correlation with gold. While USD/JPY fall during the crisis, gold price went up.

Author: Editor