EURJPY

(Last Updated September 21, 2020)

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

The Trend

As for trends on EURJPY, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.

EURJPY Moving Averages

Nuances in the trend on EURJPY can be understood by observing the behavior of its moving averages. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 20 are bullish, suggesting the trend is generally upward, aside from a fall about 3 weeks prior.

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

In terms of correlations over the past week for EURJPY, it has demonstrated the strongest correlation with CHFJPY. If we zoom out to a two week basis, though, the asset showing the strongest correlation to EURJPY is TRYJPY. On the flip side, USDSEK has been the asset least correlated with EURJPY — but over the past two weeks, the asset least correlated with EURJPY has been NZDCHF. The chart below illustrates EURJPY against its least correlated assets.

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The View From the Weekly Timeframe

At the moment, EURJPY’s rate is down -1.945 (-1.55%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move up. As for the trend on the weekly timeframe, we see the clearest trend on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a bearishness 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. The weekly chart below shows EURJPY’s price action over the past year.