(Last Updated April 15, 2021)
Welcome to the news page for EURJPY (EURJPY). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Japan BoJ Gov Kuroda Speech | NA | Japanese Yen | JPY | 2021-04-15 | 01:00 GMT | ||
| Japan Reuters Tankan Index | Apr 2021 | Japanese Yen | JPY | 2021-04-15 | 23:00 GMT | ||
| Euro Area Eurogroup Video Conference | NA | Euro | EUR | 2021-04-16 | 08:00 GMT | ||
| Euro Area Core Inflation Rate YoY Final | Mar 2021 | Euro | EUR | 2021-04-16 | 09:00 GMT | 0.9% | |
| Euro Area Inflation Rate YoY Final | Mar 2021 | Euro | EUR | 2021-04-16 | 09:00 GMT | 1.3% |
If we observe the 90, 30 and 14 day timeframes, we see an uptrend in place for EURJPY.
The moving averages on EURJPY indicate a trend that is clearly 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 CADCHF. Over the past 14 days, however, USDZAR is the asset most correlated to EURJPY. On the flip side, the asset least correlated with EURJPY over the past week has been EURNOK, but if we observe the prior two weeks, CADJPY has been the asset least correlated with EURJPY. 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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At the moment, EURJPY’s rate is down -1.3 pips (-0.01%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 10 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURJPY. Given that we see an uptrend on the 20 and 10 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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.
Strongest trend on the 24 month timeframe.
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
The closest is the 50 day average, which is 158.6 pips away.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.
The closest is the 200 day average, which is 50.7 pips away.
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.
And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well.
It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe.
Or to simplify this another way, note that out of the past 14 days eurjpy’s price has gone up 9 them.
This is the 2nd consecutive hour eurjpy has seen its price head down.
This is a reversal of the price action on the previous hour, in which price moved up.