News is fundamental and it will squeeze price into directions where technical is not able tothis is why standing aside and letting the market show its directions is key creating better r:rdo not trade before taking confirmation….
Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down.
For additional context, note that price has gone up 16 out of the past 30 days.
Compared to its peers in the forex, eur/jpy gave its buyers a return that ranked 21st in terms of percentage change since the previous day.
Relative to other instruments in the forex asset class, eur/jpy ranked 12th the day prior in terms of percentage price change.
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It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe.
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
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.
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.