And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
Of note is that the 20 hour changed directions on eurjpy; it is now pointing up.
It’s been a feast for bears operating on an hourly timeframe, as eurjpy has now gone down 4 of the past 5 hours.
Or to simplify this another way, note that out of the past 30 days eurjpy’s price has gone up 15 them.
Price action traders may also wish to note that we see a doji candlestick pattern on eurjpy.
Or to simplify this another way, note that out of the past 14 days eurjpy’s price has gone up 7 them.
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
Volatility for eurjpy has been contracting over the past two weeks relative to volatility over the past month.