EUR/JPY 4 Hour Price Update
Updated May 13, 2020 01:11 AM GMT (09:11 PM EST)
EUR/JPY is down 9 pips (0.08%) since the last 4 hour candle (opening the current 4 hour candle near 116.231), marking the 3rd candle in a row it has gone down. Relative to other instruments in the Forex asset class, EUR/JPY ranked 22nd the last 4 hour candle in terms of percentage price change.
EUR/JPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
EUR/JPY entered today at 116.274, up 8 pips (0.07%) from yesterday. Compared to its peers in the Forex, EUR/JPY gave its buyers a return that ranked 7th in terms of percentage change since yesterday. The price chart of EUR/JPY below illustrates.
EUR/JPY Technical Analysis
Notably, the current price of EUR/JPY is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. For additional context, note that price has gone up 15 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!
The View From Around the Web
Of note is that traders in aggregate have opinions on EURJPY, with 2 buy signals on our radar and 20 sell signals. This imputes a buy/sell ratio of 0.1, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance of channel, double top, fibonacci and head and shoulders technical patterns. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.
The Euro is no longer the worst performing currency in May, ceding that crown to the British Pound, which remains befallen by hard Brexit fears due to the coronavirus pandemic.