EUR/JPY Price Analysis: Cross gains ground with subtle consolidation signs

The daily RSI is pointing upwards, hovering around 70, but continuing red bars in the MACD show a trailing consolidation. On the hourly chart, indicators are neutral and reside in the positive terrain. The 20-day SMA at 169.00 serves as an important threshold for sellers. On Friday's trading session, despite recent downside corrections, the EUR/JPY pair managed to reclaim its stance above 170.00.

These mixed signals necessitate following the pair closely to determine if this marks a fresh bullish momentum or merely a pause in a more pronounced downward correction. EUR/JPY daily chart On the hourly chart, indicators are maintaining their neutrality, inhabiting the positive territory. This could potentially point to a subtle strengthening of bullish sentiment despite the ongoing consolidation phase.

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