(Last Updated September 30, 2021 21:34 GMT)
At the time of this writing, EURJPY’s rate is down -8.6 pips (-0.07%) from the hour prior. EURJPY has seen its price go down 4 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 20 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, which opened today priced near 129.879, is down 44 pips 0.34% since the previous day, marking a reversal from the day prior — and the end of a 5 day positive run. Out of the 39 instruments in the Forex asset class, EURJPY ended up ranking 30th for the day in terms of price change. Here is a price chart of EURJPY.
EURJPY Technical Analysis
Coming into today EURJPY is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 200 day average, which is 16 pips away. It should be noted, though, the 20 and 50 day simple moving averages turned downwards, which may be a bearish sign. 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. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days EURJPY’s price has gone down 8 them.