EURJPY Up 6 Pips On Hourly Chart; 2 Day Up Streak Broken

Hourly Update

(Last Updated July 23, 2021 2:18 GMT)

At the moment, EURJPY’s rate is up 6.4 pips (0.05%) 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. Price action traders may also wish to note that we see a doji candlestick pattern on EURJPY. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 20 hourly candle timeframe, so the meaning of the candles may require further exploration. 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 entered today at 129.64301, down 41 pips (0.32%) from the previous day. Relative to other instruments in the Forex asset class, EURJPY ranked 32nd the previous day in terms of percentage price change. Let’s take a look at price chart of EURJPY.

EURJPY

EURJPY Technical Analysis

Coming into today the current price of EURJPY is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 107.4 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 9 out of the past 14 days.