EUR/JPY Up 9 Pips Over Past Hour, in an Uptrend Over Past 14 Days; is Inching Close to 200 Day Average

Hourly Update

(Last Updated December 30, 2021 1:41 GMT)

At the time of this writing, EURJPY’s rate is up 9.1 pips (0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move 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 doji candlestick pattern on EURJPY. Given that we see an uptrend on the 20 and 10 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)

The choppiness in the recent daily price action of EURJPY continues; to start today, it came in at a price of 130.50301, up 65 pips (0.5%) since yesterday. Relative to other instruments in the Forex asset class, EURJPY ranked 7th yesterday in terms of percentage price change. Let’s take a look at price chart of EURJPY.

EURJPY

EURJPY Technical Analysis

The first thing we should note is that EURJPY is now close to its 20, 50, 100 and 200 day averages, located at 128.6885, 129.7935, 129.7954 and 130.5201 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 15 out of the past 30 days.