EURJPY Down 8 Pips Over Past Hour, Moves Down For the 5th Straight Day; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated January 15, 2021 3:19 GMT)

At the time of this writing, EURJPY’s rate is down -7.9 pips (-0.06%) from the hour prior. The hourly chart shows that EURJPY has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURJPY is down 12 pips (0.1%) since yesterday (opening today near 126.143), marking the 5th straight day a decline has happened. Relative to other instruments in the Forex asset class, EURJPY ranked 25th yesterday in terms of percentage price change. Here is a price chart of EURJPY.


EURJPY Technical Analysis

Coming into today EURJPY is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days EURJPY’s price has gone up 15 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.