EUR/JPY 4 Hour Price Update
Updated May 18, 2020 05:05 PM GMT (01:05 PM EST)
EUR/JPY is up 92 pips (0.79%) since the last 4 hour candle (opening the current 4 hour candle near 116.989), marking the 2nd candle in a row an upward move has occurred. Compared to its peers in the Forex, EUR/JPY gave its buyers a return that ranked 5th in terms of percentage change since the last 4 hour candle.
EUR/JPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
The back and forth price flow continues for EUR/JPY, which started today off at 115.889, up 6 pips 0.05% from the day prior. Compared to its peers in the Forex, EUR/JPY gave its buyers a return that ranked 10th in terms of percentage change since the day prior. Let’s take a look at price chart of EUR/JPY.
EUR/JPY Technical Analysis
Notably, EUR/JPY is now close to its 20, 50 and 100 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 down. For additional context, note that price has gone down 15 out of the past 30 days. 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
Of note is that traders in aggregate have opinions on EURJPY, with 12 buy signals on our radar and 26 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 fibonacci technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
We are still on wave e of the bigger picture… Looking for lower time frames for trades