EUR/JPY Down 1 Pips On Hourly Chart, Moves Up For the 5th Day In A Row; is Inching Close to 20 Day Average

Hourly Update

(Last Updated May 10, 2022 1:40 GMT)

At the time of this writing, EURJPY’s rate is down -0.8 pips (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 is up 17 pips (0.13%) since the day prior (opening today near 137.815), marking the 5th day in a row an upward move has occurred. Out of the 39 instruments in the Forex asset class, EURJPY ended up ranking 21st for the day in terms of 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 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 10 days.