EURJPY

(Last Updated November 27, 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

For EURJPY, we have to zoom out to the 90 day timeframe and beyond to see a clear trend; at that point, a clear downtrend becomes apparent.

EURJPY Moving Averages

Across several time periods between 20 and 200 days, the trend on EURJPY has remained consistently bullish.

The chart below illustrates.

Regarding EURJPY’s correlations over the past 7 days, it has been most correlated with ZARJPY. Over the past 14 days, however, the asset showing the strongest correlation to EURJPY is CHFJPY. On the flip side, the asset least correlated with EURJPY over the past week has been GBPAUD, but over the past two weeks, USDHKD has been the asset least correlated with EURJPY. The chart below illustrates EURJPY against its least correlated assets.

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The View From the Weekly Timeframe

At the time of this writing, EURJPY’s rate is up 1.101 (0.89%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. Regarding moving averages, it should first be noted that price has crossed the 20 week moving average, resulting in them with price now being above it. 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. EURJPY’s weekly price action over the past 52 weeks can be seen via the chart below.

EURJPY: The Monthly View

Monthly view favors rangebound strategies. No clear trend on the 24, 60 and 120 month timeframes.