EURJPY Up 6 Pips in Last Hour, 2 Day Down Streak Broken; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated February 25, 2021 0:20 GMT)

At the time of this writing, EURJPY’s rate is up 6.5 pips (0.05%) from the hour prior. EURJPY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURJPY. Given that we see an uptrend on the 20, 10 and 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

EURJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURJPY entered today at 127.929, up 22 pips (0.17%) from yesterday. Relative to other instruments in the Forex asset class, EURJPY ranked 17th yesterday in terms of percentage price change. Let’s take a look at price chart of EURJPY.

EURJPY

EURJPY Technical Analysis

Coming into today EURJPY is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days EURJPY’s price has gone up 9 them. Also, candlestick traders! Note we see doji pattern appearing here as well.