EUR/JPY Up 8 Pips in Last Hour, 2 Day Down Streak Snapped; Nears 20 Day Moving Average

Hourly Update

(Last Updated May 4, 2022 1:40 GMT)

Currently, EURJPY’s rate is up 8.2 pips (0.06%) from the hour prior. The hourly chart shows that EURJPY has seen 3 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)

EURJPY entered today at 136.927, up 16 pips (0.12%) from the previous day. Out of the 39 instruments in the Forex asset class, EURJPY ended up ranking 15th for the day in terms of price change. Below is a price chart of EURJPY.

EURJPY

EURJPY Technical Analysis

Coming into today EURJPY is now close to its 20 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days EURJPY’s price has gone up 16 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.