(Last Updated September 6, 2021 23:17 GMT)
At the moment, EURJPY’s rate is down 0.2 pips (0%) 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. Regarding the trend, note that the strongest trend exists 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, which opened today priced near 130.311, is down 22 pips 0.17% since the previous day, marking a reversal from the day prior — and the end of a 5 day positive run. Relative to other instruments in the Forex asset class, EURJPY ranked 31st the previous day in terms of percentage price change. Below is a price chart of EURJPY.
EURJPY Technical Analysis
The first thing we should note is that EURJPY is now close to its 20, 50, 100 and 200 day averages, located at 129.3347, 129.9509, 131.1305 and 129.3947 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 36 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 17 out of the past 30 days.