EURJPY Daily Analysis

[FXGlory Ltd]

EURJPY analysis for 21.09.2023

The EURJPY, on a 4-hour chart, exhibits a sideways trend, indicating a lack of strong directional momentum. Even though it has touched the upper Bollinger band, the consistent width of the bands suggests limited volatility and a maintained equilibrium between buying and selling pressures. The MACD's bullish signal, with its line above the signal line and green bars, suggests short-term bullish momentum. However, considering the broader sideways trend, traders should exercise caution and watch for potential reversals or continuation of the range-bound movement.


FXGlory
21.09.2023

 

[FXGlory Ltd]

EURJPY analysis for 18.10.2023

The EURJPY has been displaying bullish indications, notably through the Ichimoku Kinko Hyo indicator where the last cloud (Kumo) is green, signifying a potential uptrend. The price candles residing above the cloud further underscore this bullish sentiment. Additionally, the conversion line (Tenkan-sen) is positioned above the base line (Kijun-sen) and aligns with the candles, suggesting short-term buying pressure. However, the Relative Strength Index (RSI) stands at 49, indicating a neutral momentum. Furthermore, the RSI-based MA line is trending downwards, which could hint at apotential bearish divergence. Considering these dynamics, caution is advised as the market could show mixed signals in the near term.

FXGlory
18.10.2023

 

[FXGlory Ltd]

EURJPY analysis for 31.10.2023

The EURJPY 4H chart shows signs of market consolidation within the Bollinger Bands. The currency pair has been oscillating between the upper and lower bands, indicating periods of volatility followed by stabilization. Notably, the Parabolic SAR dots, initially above the price candles suggesting a bearish trend, have recently moved below them, hinting at a possible bullish reversal. However, the proximity of the price candles to the middle Bollinger Band indicates a lack of strong directional bias. Traders should exercise caution and wait for a clear breakout from the bands or a consistent trend in the Parabolic SAR before making decisive moves. The upcoming sessions will be crucial to determine the pair's next direction.


FXGlory
31.10.2023