EURJPY Down 2 Pips in Last Hour, Came Into Today Up For the 2nd Consecutive Day; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated June 10, 2021 7:19 GMT)

At the moment, EURJPY’s rate is down -2 pips (-0.01%) from the hour prior. EURJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. 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 downtrend on the 20 and 10 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 20, 50, 100 and 200 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 up 24 pips (0.18%) since the previous day (opening today near 133.495), marking the 2nd consecutive day it has gone up. Relative to other instruments in the Forex asset class, EURJPY ranked 7th the previous day in terms of percentage price change. Below is a price chart of EURJPY.

EURJPY

EURJPY Technical Analysis

Coming into today EURJPY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Volatility for EURJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days EURJPY’s price has gone up 6 them.