EUR/JPY Down 44 Pips Over Past 4 Hours, Came Into Today Down For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart

EUR/JPY 4 Hour Price Update

Updated March 27, 2020 12:51 AM GMT (08:51 PM EST)

The back and forth price flow continues for EUR/JPY, which started the current 4 hour candle off at 120.516, down 44 pips 0.37% from the last 4 hour candle. Compared to its peers in the Forex, EUR/JPY gave its buyers a return that ranked 36th in terms of percentage change since the last 4 hour candle.

EUR/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/JPY is down 10 pips (0.09%) since yesterday (opening today near 120.745), marking the 2nd day in a row it has gone down. Out of the 40 instruments in the Forex asset class, EUR/JPY ended up ranking 26th for the day in terms of price change. Here is a price chart of EUR/JPY.

EUR/JPY Technical Analysis

Notably, EUR/JPY is now close to its 20, 50, 100 and 200 day averages, located at 118.9877, 119.5705, 120.4588 and 119.79 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 100 day average, which is 28.6 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 down. Or to simplify this another way, note that out of the past 10 days EUR/JPY’s price has gone up 6 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURJPY, with 9 buy signals on our radar and 15 sell signals. This imputes a buy/sell ratio of 0.6, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

We have touches of price outside of Bollinger Band with Moving Averages showing over extension of price. Broken Trendline with retest. EJ ready to bleed, all in. Dont Trust Me Im A Lose Money Trader. #bigballsfx #bbfx