EUR/JPY Down 18 Pips Over Past Hour, Came Into Today Down For the 2nd Day In A Row; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated September 22, 2022 1:39 GMT)

At the moment, EURJPY’s rate is down -17.9 pips (-0.13%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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 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 155 pips (1.08%) since the day prior (opening today near 141.73), marking the 2nd day in a row it has gone down. Out of the 39 instruments in the Forex asset class, EURJPY ended up ranking 33rd for the day in terms of price change. Let’s take a look at price chart of EURJPY.

EURJPY

EURJPY Technical Analysis

Notably, EURJPY is now close to its 20, 50 and 100 day averages, located at 141.424, 139.1984 and 139.1493 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days EURJPY’s price has gone up 7 them.