EUR/JPY 4 Hour Price Update
Updated March 26, 2020 05:11 AM GMT (01:11 AM EST)
The back and forth price flow continues for EUR/JPY, which started the current 4 hour candle off at 120.88, up 21 pips 0.17% from the previous 4 hours. Relative to other instruments in the Forex asset class, EUR/JPY ranked 17th the previous 4 hours in terms of percentage price change.
EUR/JPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
EUR/JPY is up 68 pips (0.56%) since the previous day (opening today near 120.717), marking the 4th day in a row it has gone up. Out of the 40 instruments in the Forex asset class, EUR/JPY ended up ranking 10th for the day in terms of price change. Here is a price chart of EUR/JPY.
EUR/JPY Technical Analysis
First things first: EUR/JPY crossed above its 100 day moving average yesterday. 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 26.9 pips away. It should be noted, though, the 20 and 100 day simple moving averages turned upwards, which may be a bullish sign. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days EUR/JPY’s price has gone up 9 them. 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
We’re seeing some traders come out with interesting conviction on EURJPY, with 6 buy signals on our radar and 13 sell signals. This imputes a buy/sell ratio of 0.46, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com that we thought you might enjoy.