(Last Updated April 9, 2021 3:18 GMT)
At the time of this writing, EURJPY’s rate is up 6.2 pips (0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 and 50 hour moving averages, resulting in them so that price is now turning above them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 130.265, down 15 pips (0.11%) from the previous day. Relative to other instruments in the Forex asset class, EURJPY ranked 18th the previous day in terms of percentage price change. Let’s take a look at price chart of EURJPY.
EURJPY Technical Analysis
The first thing we should note is that the current price of EURJPY 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 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days EURJPY’s price has gone up 7 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.