(Last Updated September 8, 2021 12:17 GMT)
At the moment, EURJPY’s rate is up 3.1 pips (0.02%) 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. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURJPY. Given that we see downtrend on the 10 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 is up 24 pips (0.19%) since the previous day (opening today near 130.62), marking the 2nd day in a row it has gone up. Out of the 39 instruments in the Forex asset class, EURJPY ended up ranking 18th for the day in terms of price change. The price chart of EURJPY below illustrates.
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 100 day average, which is 51.8 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 14 days EURJPY’s price has gone up 11 them. Also, candlestick traders! Note we see doji pattern appearing here as well.