EUR/JPY Up 10 Pips On Hourly Chart; 3 Day Down Streak Ended

Hourly Update

(Last Updated June 15, 2022 1:41 GMT)

At the moment, EURJPY’s rate is up 10 pips (0.07%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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, which opened today priced near 141.09, is up 121 pips 0.87% since the previous day, marking a reversal from the day prior — and the end of a 3 day negative run. Compared to its peers in the Forex, EURJPY gave its buyers a return that ranked 5th in terms of percentage change since the previous day. Let’s take a look at price chart of EURJPY.

EURJPY

EURJPY Technical Analysis

Coming into today the current price of EURJPY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days EURJPY’s price has gone up 11 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on EURJPY, with 12 buy signals on our radar and 7 sell signals. This imputes a buy/sell ratio of 1.71, which is bullish. As for the rationale, technical traders seem to be citing the appearance of demand zone technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

EURJPY ANALYSIS.expect price to range towards the upm side.after the pull back.PROPER RISK MANAGEMENT.ADEX CARES