EUR/JPY Up 27 Pips Over Past Hour, 4 Day Up Streak Ended; Social Sentiment Biased Towards Selling

Hourly Update

(Last Updated December 27, 2021 1:38 GMT)

Currently, EURJPY’s rate is up 27.3 pips (0.21%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists 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)

A moment of silence, please, for the end of EURJPY’s 4 day up streak; price ended the day prior down 52 pips (-0.4%) to finish the day at a rate of 129.203. Compared to its peers in the Forex, EURJPY gave its buyers a return that ranked 36th in terms of percentage change since the day prior. Let’s take a look at price chart of EURJPY.

EURJPY

EURJPY Technical Analysis

Notably, EURJPY is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 100 day average, which is 57.5 pips away. Or to simplify this another way, note that out of the past 14 days EURJPY’s price has gone up 7 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on EURJPY, with 1 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 0.09, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hello Tradersas you can see I have done EURJPY analysis on 4hr TF, we have seen JPY Has been Bearish for sometime but it is now showing some strength and this is why I am looking to sell EURJPY. I have done analysis on JPY currency and i am seeing strength on the currency.