The daily chart reveals an encouraging picture for the bulls, with the RSI close to 60.
On the hourly chart, the indicators are weakening, but remain in a positive area.
The cross operating above main SMAs, suggests a maintained bullish bias in both short-term and long-term contexts.
The EUR/JPY pair is currently exchanging hands at 164.24, registering a minor gain of 0.16%. Trading dynamics are steadily bullish, with buyers having a dominant influence over market actions. However, indicators are losing steam in the hourly chart.
The daily Relative Strength Index (RSI) reading, residing near 60, places the market in a positive territory and its consistent positive trend in the RSI, indicates that buyers maintain control over the market. Consistently, the Moving Average Convergence Divergence (MACD) presents an encouraging picture with decreasing red bars suggesting weak negative 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.