In Monday's session, the EUR/JPY pair is trading mildly higher, showing continued dominance by the bulls.
The daily RSI and MACD remain in positive territory but suggest that consolidation may be incoming.. The same indicators on the hourly chart hint also signal a possible consolidation phase subsequent to recent gains. The EUR/JPY's position above primary SMAs maintains long-term bullish sentiment. In Monday's session, the EUR/JPY pair is trading mildly higher, showing continued dominance by the bulls.
EUR/JPY daily chart Transitioning to the hourly chart, the RSI has dipped from high-positive towards a negative slope, with the latest reading at 54, distancing itself from an earlier overbought condition. The MACD histogram also hints at a pace alteration, continuing to print flat green bars, implying a downturn in buying pressure. EUR/JPY hourly chart The EUR/JPY robust performance is highlighted by its position above the key Simple Moving Average benchmarks at 20,100, and 200 days.
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