The EUR/JPY stands at 165.68, trading with mild gains still in multi-year highs.
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 .
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