EUR/JPY Down 0 Pips in Last 4 Hours, Came Into Today Up For the 3rd Day In A Row; in a Downtrend Over Past 90 Days

EUR/JPY 4 Hour Price Update

Updated May 19, 2020 05:11 PM GMT (01:11 PM EST)

The choppiness in the recent four-hour candle price action of EUR/JPY continues; to start the current 4 hour candle, it came in at a price of 117.974, down 0 pips (0%) since the last 4 hour candle. Out of the 37 instruments in the Forex asset class, EUR/JPY ended up ranking 22nd for the four-hour candle in terms of price change.

EUR/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/JPY is up 10 pips (0.09%) since yesterday (opening today near 117.203), marking the 3rd day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, EUR/JPY ranked 9th yesterday in terms of percentage price change. Here is a price chart of EUR/JPY.

EUR/JPY Technical Analysis

Notably, EUR/JPY is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days EUR/JPY’s price has gone up 15 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURJPY, with 17 buy signals on our radar and 23 sell signals. This imputes a buy/sell ratio of 0.74, which is bearish. As for the rationale, technical traders seem to be citing the appearance of relative strength index and trendline technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

pushing up to daily main resistance trendline…