EUR/JPY Down 10 Pips On 4 Hour Chart, 2 Day Down Streak Broken; in a Downtrend Over Past 90 Days

EUR/JPY 4 Hour Price Update

Updated May 14, 2020 09:06 AM GMT (05:06 AM EST)

EUR/JPY is down 10 pips (0.08%) since the last 4 hour candle (opening the current 4 hour candle near 115.466), marking the 5th candle in a row it has gone down. Compared to its peers in the Forex, EUR/JPY gave its buyers a return that ranked 27th in terms of percentage change since the last 4 hour candle.

EUR/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for EUR/JPY, which started today off at 115.777, up 2 pips 0.01% from the day prior. Relative to other instruments in the Forex asset class, EUR/JPY ranked 26th the day prior in terms of percentage price change. Let’s take a look at price chart of EUR/JPY.

EUR/JPY Technical Analysis

Coming into today the current price of EUR/JPY is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. For additional context, note that price has gone up 5 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on EURJPY, with 7 buy signals on our radar and 27 sell signals. This imputes a buy/sell ratio of 0.26, which is bearish. As for the rationale, technical traders seem to be citing the appearance of channel, divergence and flag technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

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