EUR/JPY Up 1 Pips Over Past 4 Hours, Makes Big Move Relative to Two Week Trend; Nears 20 Day Moving Average
Volatility for eur/jpy has been contracting over the past two weeks relative to volatility over the past month.
EURJPY
(Last Updated July 10, 2020)
Welcome to the news page for EURJPY (EURJPY). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
On EURJPY, there is currently an uptrend on the 90 and 14 day timeframes.
EURJPY Moving Averages
Across several time periods between 20 and 200 days, the trend on EURJPY has remained consistently bullish.
The chart below illustrates.
As for assets in the Forex asset class EURJPY has been correlated to over the past week, it has been most correlated with AUDJPY. Over the past 14 days, however, the asset showing the strongest correlation to EURJPY is CHFJPY. Alternatively, the asset least correlated with EURJPY over the past week has been ZARJPY, but if we observe the prior two weeks, the asset least correlated with EURJPY has been GBPAUD. See the chart below to observe the recent price action in EURJPY versus those of assets it hasn’t been well correlated with.
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The View From the Weekly Timeframe
Currently, EURJPY’s rate is up 0.207 (0.17%) from the week prior. Moreover, note that the weekly chart shows that EURJPY has seen 3 straight up weeks. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 5, 10 and 20 week timeframes. Of note is that the 50 week changed directions on EURJPY; it is now pointing up. Looking further out, the moving averages on the weekly timeframe suggest a bearishess in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. EURJPY’s weekly price action over the past 52 weeks can be seen via the chart below.
EUR/JPY Down 12 Pips Over Past 4 Hours, Makes Big Move Relative to Two Week Trend; is Inching Close to 20 Day Average
Relative to other instruments in the forex asset class, eur/jpy ranked 8th the day prior in terms of percentage price change.
EUR/JPY Down 31 Pips Over Past 4 Hours; Moves Up For the 2nd Day In A Row
It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign.
EUR/JPY Down 1 Pips in Last 4 Hours, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
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.
EUR/JPY Up 3 Pips On 4 Hour Chart, Moves Up For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart
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.
EUR/JPY Up 51 Pips in Last 4 Hours, Eyes 20 Day Average; Pin Bar Pattern Appearing on Chart
As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern.
EUR/JPY Down 4 Pips Over Past 4 Hours, 2 Day Down Streak Snapped; Nears 20 Day Moving Average
This imputes a buy/sell ratio of 1, which is neutral.
EUR/JPY Down 2 Pips in Last 4 Hours, Came Into Today Up For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart
Volatility for eur/jpy has been contracting over the past two weeks relative to volatility over the past month.
EUR/JPY Down 11 Pips in Last 4 Hours, Moves Down For the 2nd Day In A Row; Doji and Pin Bar Patterns Appearing on Chart
As for the rationale, technical traders seem to be citing the appearance of fibonacci and trendline technical patterns.
EUR/JPY Up 19 Pips Over Past 4 Hours, Price Base in Formation Over Past 14 Days; Nears 20 Day Moving Average
This imputes a buy/sell ratio of 1.67, which is bullish.