EUR/JPY Up 6 Pips On Hourly Chart, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated December 29, 2021 1:44 GMT)

At the time of this writing, EURJPY’s rate is up 6.3 pips (0.05%) from the hour prior. This is the 3rd straight hour EURJPY has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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)

The back and forth price flow continues for EURJPY, which started today off at 129.856, down 26 pips 0.2% from the day prior. Compared to its peers in the Forex, EURJPY gave its buyers a return that ranked 30th 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 50 day average, which is 0.7 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 7 out of the past 14 days.