EURJPY Up 12 Pips On Hourly Chart; Breaks Below 20 Day Average

Hourly Update

(Last Updated October 27, 2020 2:17 GMT)

At the time of this writing, EURJPY’s rate is up 12 pips (0.1%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 123.795, down 36 pips 0.29% from yesterday. Relative to other instruments in the Forex asset class, EURJPY ranked 36th yesterday in terms of percentage price change. Here is a price chart of EURJPY.

EURJPY

EURJPY Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURJPY crossed below its 20 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 20 day average, which is 24.9 pips away. 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 down 16 them.