EUR/JPY Down 8 Pips On Hourly Chart; Crosses 50 and 100 Day Moving Averages

Hourly Update

(Last Updated December 28, 2021 1:42 GMT)

At the time of this writing, EURJPY’s rate is down -8.2 pips (-0.06%) from the hour prior. EURJPY has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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. 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 130.12, up 92 pips (0.71%) from yesterday. Compared to its peers in the Forex, EURJPY gave its buyers a return that ranked 6th in terms of percentage change since yesterday. The price chart of EURJPY below illustrates.

EURJPY

EURJPY Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURJPY crossed above its 50 and 100 day moving averages 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 20.4 pips away. It should be noted, though, the 100 and 200 day simple moving averages turned upwards, which may be a bullish sign. For additional context, note that price has gone up 15 out of the past 30 days.