EUR/JPY Price Analysis: Bulls continue dominating, yet a consolidation may be incoming

The daily RSI reveals increasing buying momentum, yet nearing overbought conditions hint at a potential technical correction ahead. The hourly chart indicates a shift in short-term momentum towards sellers, and indicators consolidate. Current market trends lean towards bullish momentum, keeping buyers in a favorable position.

EUR/JPY Daily Chart On the other hand, the hourly chart shows a slight fluctuation in RSI values, which have swung between 48 and 71 during the session and buyers now seem to be taking a breather. The Moving Average Convergence Divergence prints flat green bars, adding arguments to a stagnant momentum. EUR/JPY Hourly Chart Regarding the overall trend, the EUR/JPY displays a bullish trajectory in the short term while maintaining its position above its 20-day Simple Moving Average .

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EUR/JPY Price Analysis: Bears hold short-term dominance, bulls must defend the 20-day SMAIn Wednesday's session, EUR/JPY is trading with mild losses at 163.75.
Source: FXStreetNews - 🏆 14. / 72 Read more »

EUR/JPY Price Analysis: Bulls lose traction, possible market cooling may followThe EUR/JPY pair is trading at 164.25 and has decreased by 0.30% in Wednesday’s session.
Source: FXStreetNews - 🏆 14. / 72 Read more »

EUR/JPY Price Analysis: Bulls make a stride and reclaim the 20-day SMAThe EUR/JPY pair is trading at 164.22, recording a slight uptick on Tuesday’s session.
Source: FXStreetNews - 🏆 14. / 72 Read more »