EURJPY Down 3 Pips in Last Hour, Entered Today Down For the 3rd Day In A Row; in a Downtrend Over Past 14 Days – CFD Trading

Hourly Update

(Last Updated July 16, 2021 23:17 GMT)

At the moment, EURJPY’s rate is down -2.8 pips (-0.02%) from the hour prior. EURJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

EURJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURJPY is down 50 pips (0.38%) since yesterday (opening today near 129.683), marking the 3rd day in a row it has gone down. Relative to other instruments in the Forex asset class, EURJPY ranked 29th yesterday in terms of percentage price change. Here is a price chart of EURJPY.

EURJPY

EURJPY Technical Analysis

Notably, EURJPY is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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. The closest is the 200 day average, which is 135.4 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 19 out of the past 30 days.

Leave a Reply

Your email address will not be published. Required fields are marked *