(Last Updated July 20, 2021 2:11 GMT)
At the time of this writing, EURJPY’s rate is up 2.5 pips (0.02%) from the hour prior. The hourly chart shows that EURJPY has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURJPY. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 129.177, down 74 pips (0.57%) from the previous day. Relative to other instruments in the Forex asset class, EURJPY ranked 26th the previous day in terms of percentage price change. Let’s take a look at price chart of EURJPY.
EURJPY Technical Analysis
Coming into today EURJPY is now close to its 20, 50, 100 and 200 day averages, located at 131.0986, 132.2172, 131.1911 and 128.3772 respectively, and thus may be at a key juncture along those timeframes. 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 200 day average, which is 80 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 18 out of the past 30 days.