EURJPY Down 6 Pips On Hourly Chart, Entered Today Up For the 2nd Consecutive Day; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated June 10, 2021 18:20 GMT)

At the moment, EURJPY’s rate is down -5.5 pips (-0.04%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURJPY has now gone down 4 of the past 5 hours. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, with price now being below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 (0.18%) since the previous day (opening today near 133.495), marking the 2nd consecutive day it has gone up. Compared to its peers in the Forex, EURJPY gave its buyers a return that ranked 7th in terms of percentage change since the previous day. The price chart of EURJPY below illustrates.

EURJPY

EURJPY Technical Analysis

Notably, EURJPY is now close to its 20 and 50 day averages, located at 133.259 and 131.8182 respectively, and thus may be at a key juncture along those timeframes. Volatility for EURJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days EURJPY’s price has gone up 6 them.