And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
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.
Volatility for eurjpy has been contracting over the past two weeks relative to volatility over the past month.
The closest is the 20 day average, which is 254.7 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 up.
Price action traders may also wish to note that we see a pin bar candlestick pattern on eurjpy.
Compared to its peers in the forex, eurjpy gave its buyers a return that ranked 19th in terms of percentage change since the day prior.
This imputes a buy/sell ratio of 0.25, which is bearish.
This is a reversal of the price action on the previous hour, in which price moved up.
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.