(Last Updated September 15, 2021 1:17 GMT)
At the moment, EURJPY’s rate is down 0.2 pips (0%) from the hour prior. This is 2nd hour in a row EURJPY has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar 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, which opened today priced near 129.897, is up 12 pips 0.09% since the previous day, marking a reversal from the day prior — and the end of a 3 day negative run. Out of the 39 instruments in the Forex asset class, EURJPY ended up ranking 13th for the day in terms of price change. The price chart of EURJPY below illustrates.
EURJPY Technical Analysis
First things first: EURJPY crossed above its 50 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 50 day average, which is 14.5 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 30 days EURJPY’s price has gone up 17 them.