This imputes a buy/sell ratio of 1.15, which is neutral.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
The closest is the 100 day average, which is 2259.5 pips away.
This is a reversal of the price action on the previous hour, in which price moved down.
This is the 3rd hour in a row eurjpy has seen its price head down.
This imputes a buy/sell ratio of 0.65, which is bearish.
As for the rationale, technical traders seem to be citing the appearance of trendline and trendline technical patterns.
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.