(Last Updated October 15, 2021 1:17 GMT)
At the time of this writing, EURJPY’s rate is up 3.7 pips (0.03%) from the hour prior. EURJPY has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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.
EURJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
EURJPY entered today at 131.382, up 45 pips (0.34%) from the previous day. Relative to other instruments in the Forex asset class, EURJPY ranked 11th the previous day in terms of percentage price change. The price chart of EURJPY below illustrates.
EURJPY Technical Analysis
Notably, EURJPY is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 87.8 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days EURJPY’s price has gone up 15 them.