EUR/JPY Down 2 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Eyes 20 Day Average

Hourly Update

(Last Updated November 23, 2022 2:22 GMT)

At the time of this writing, EURJPY’s rate is down -2 pips (-0.01%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURJPY has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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)

The back and forth price flow continues for EURJPY, which started today off at 145.5, down 4 pips 0.03% from yesterday. Out of the 39 instruments in the Forex asset class, EURJPY ended up ranking 18th for the day in terms of price change. Here is a price chart of EURJPY.

EURJPY

EURJPY Technical Analysis

Notably, EURJPY is now close to its 20 and 50 day averages, located at 145.6015 and 144.1006 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 90 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 up 17 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!