EURJPY Down 6 Pips in Last Hour, Came Into Today Down For the 2nd Consecutive Day; Nears 20, 50 and 200 Day Moving Averages

Hourly Update

(Last Updated September 17, 2021 1:18 GMT)

At the moment, EURJPY’s rate is down -5.5 pips (-0.04%) from the hour prior. The hourly chart shows that EURJPY has seen 3 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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 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 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 is down 29 pips (0.22%) since the day prior (opening today near 129.205), marking the 2nd consecutive day a decline has happened. Compared to its peers in the Forex, EURJPY gave its buyers a return that ranked 26th in terms of percentage change since the day prior. Below is a price chart of EURJPY.

EURJPY

EURJPY Technical Analysis

Notably, EURJPY is now close to its 20, 50, 100 and 200 day averages, located at 129.6503, 129.7014, 131.0813 and 129.5721 respectively, and thus may be at a key juncture along those timeframes. 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 200 day average, which is 36.7 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days EURJPY’s price has gone down 6 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.