EUR/JPY Down 1 Pips in Last Hour; Crosses 200 Day Moving Average

Hourly Update

(Last Updated January 5, 2022 1:41 GMT)

Currently, EURJPY’s rate is down -0.6 pips (0%) from the hour prior. This is 2nd consecutive hour EURJPY has seen its price head down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar 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)

The choppiness in the recent daily price action of EURJPY continues; to start today, it came in at a price of 131.09801, up 79 pips (0.6%) since yesterday. Compared to its peers in the Forex, EURJPY gave its buyers a return that ranked 11th in terms of percentage change since yesterday. Below is a price chart of EURJPY.

EURJPY

EURJPY Technical Analysis

First things first: EURJPY crossed above its 200 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days EURJPY’s price has gone down 16 them.