EURJPY Down 7 Pips Over Past Hour, Moves Down For the 2nd Day In A Row; Breaks Below 50 Day Average

Hourly Update

(Last Updated September 10, 2021 2:17 GMT)

Currently, EURJPY’s rate is down -7.4 pips (-0.06%) from the hour prior. This is the 2nd consecutive hour EURJPY has seen its price head down. 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 down 48 pips (0.37%) since yesterday (opening today near 129.8), marking the 2nd day in a row a decline has happened. Relative to other instruments in the Forex asset class, EURJPY ranked 31st yesterday in terms of percentage price change. The price chart of EURJPY below illustrates.

EURJPY

EURJPY Technical Analysis

First things first: EURJPY crossed below its 50 day moving average yesterday. 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 2.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. 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 10 out of the past 14 days.