The EUR/JPY is trading around 162.76, recording a 0.31% loss in Tuesday's trading session.
The daily chart reveals that buyers are consolidating the last session's gains.
Hourly indicators hint at a possible shift in trend with sellers in charge, and indicators near oversold territory.
In Tuesday's session, the EUR/JPY pair is trading at 162.76, with 0.31% losses. With a larger influence by buyers compared to sellers, the broader perspective suggests a predominant bullish trend despite the day-to-day loss as the buyers seem to be taking a breather.
On the daily chart, the Relative Strength Index (RSI) for the EUR/JPY pair is in positive territory, signaling the domination of buyers in the market but it points south. Concurrently, the Moving Average Convergence Divergence (MACD) indicates a growing selling momentum with rising red bars which corroborates the idea of a short-term downward consolidation
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