The daily RSI was rejected near the overbought region.
Hourly chart indicators show a shift in short-term dynamics, with sellers gaining ground.
Despite the signs of potential short-term bearish correction, the pair still holds above key SMAs, denoting an overall bullish trend.
The EUR/JPY pair shows slight losses of 0.26% during Thursday's session. Despite sporadic fluctuations, there is a largely upward trend, indicating a strong position for buyers. Yet, recent subtle signs of selling pressure hint at a potential challenge to the continuity of the bullish trend for the next sessions.
On the daily chart, the Relative Strength Index (RSI) shows an overall positive trend. However, imminent overbought conditions suggest a possible downward retracement could soon emerge as buyers may continue taking profits. In addition, the Moving Average Convergence Divergence (MACD) continues to print green bars, suggesting a steady buying momentum
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.