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; below is a short snippet from it to give you a taste.

At Forex Jin , we’re out to prove that Forex Analysis can be just as trustworthy as expensive signal subscriptions….Our reliable Forex Analysis will provide you with expert advice about when to buy and sell the major currency pairs without costing you a penny….If you’re looking for daily signals, we recommend that you peruse our trading view channel for a look at some of the best professional charts and updatesExperience Live timely execution with experts.