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.
Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
Rangebound traders may wish to note that eurjpy is getting close to its upper bollinger band, which, when coupled with the lack of trend on a 14 day timeframe, may be an opportunity for short sellers.
Or to simplify this another way, note that out of the past 30 days eurjpy’s price has gone up 16 them.
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
As for the rationale, technical traders seem to be citing the appearance of a double top technical pattern.
Compared to its peers in the forex, eurjpy gave its buyers a return that ranked 10th in terms of percentage change since yesterday.
For additional context, note that price has gone up 8 out of the past 14 days.
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.