EURJPY

(Last Updated January 18, 2021)

Hello! This is the news page for EURJPY. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:

Forex Calendar for EURJPY

metric_name reference_period asset_name asset_id date time forecast outcome
Euro Area Eurogroup Video Conference NA Euro EUR 2021-01-18 08:00 GMT
Euro Area ECB President Lagarde Speech NA Euro EUR 2021-01-18 08:00 GMT
European Union New Car Registrations YoY Dec 2020 Euro EUR 2021-01-19 07:00 GMT
Euro Area ZEW Economic Sentiment Index Jan 2021 Euro EUR 2021-01-19 10:00 GMT
Euro Area Construction Output YoY Nov 2020 Euro EUR 2021-01-19 10:00 GMT

The Trend

On EURJPY, we don’t see a clear trend until the 90 day basis, where we see a clear uptrend.

EURJPY Moving Averages

The moving averages on EURJPY summarize its price action in an interesting way. Of the 20, 50, 100, and 200 day averages — three of them (all but the 20) — are bullish, implying a upward trend, save for a decline that occurred about 3 weeks ago. Moreover, it should also be noted that the 20 SMA just turned bearish today.

Below is a chart showing EURJPY’s price with its moving averages.

As for assets in the Forex asset class EURJPY has been correlated to over the past week, it has demonstrated the strongest correlation with NZDCAD. If we zoom out to a two week basis, though, EURCHF is the asset most correlated to EURJPY. On the flip side, AUDCHF has been the asset least correlated with EURJPY — but over the past two weeks, EURTRY has been the asset least correlated with EURJPY. The chart below illustrates EURJPY against its least correlated assets.

.

The View From the Weekly Timeframe

At the time of this writing, EURJPY’s rate is down -166 pips (-1.31%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly 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. The weekly chart below shows EURJPY’s price action over the past year.

EURJPY: The Monthly View

Monthly view favors rangebound strategies. No clear trend on the 24, 60 and 120 month timeframes.

+ More