(Last Updated April 29, 2022 1:42 GMT)
Currently, EURJPY’s rate is down -21.1 pips (-0.15%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend 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)
EURJPY is up 202 pips (1.49%) since yesterday (opening today near 137.554), marking the 2nd straight day an increase has occurred. Out of the 39 instruments in the Forex asset class, EURJPY ended up ranking 6th for the day in terms of price change. Let’s take a look at price chart of EURJPY.
EURJPY Technical Analysis
Notably, EURJPY crossed above its 20 day moving average yesterday. 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. For additional context, note that price has gone up 8 out of the past 14 days.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for EURJPY; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Weekly demand area, 4 hours confirmation. I’m waiting for the price to hit the 4 hours demand area.