EUR/JPY Up 10 Pips On Hourly Chart, Moves Up For the 4th Day In A Row; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated May 9, 2022 1:39 GMT)

Currently, EURJPY’s rate is up 10.4 pips (0.08%) 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. 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 is up 44 pips (0.32%) since yesterday (opening today near 137.64101), marking the 4th day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, EURJPY ranked 10th yesterday in terms of percentage price change. 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 90 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 8 them.