(Last Updated December 16, 2021 1:40 GMT)
Currently, EURJPY’s rate is up 10.4 pips (0.08%) from the hour prior. EURJPY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend 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 entered today at 128.916, up 89 pips (0.69%) from yesterday. Out of the 39 instruments in the Forex asset class, EURJPY ended up ranking 9th for the day in terms of price change. Here is a price chart of EURJPY.
EURJPY Technical Analysis
Notably, EURJPY crossed above its 20 day moving average yesterday. 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 20 day average, which is 39.4 pips away. It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign. 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 down. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 8 out of the past 14 days.