(Last Updated September 23, 2021 2:2 GMT)
At the moment, EURJPY’s rate is down -2.8 pips (-0.02%) from the hour prior. EURJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. 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 128.36501, is up 41 pips 0.32% since yesterday, marking a reversal from the day prior — and the end of a 6 day negative run. Relative to other instruments in the Forex asset class, EURJPY ranked 10th yesterday 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 129.5897, 129.5101, 130.9335 and 129.631 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 114.5 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 10 out of the past 14 days.