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EUR/JPY PRICE ANALYSIS: BULLS MAINTAIN CONTROL, CONSOLIDATION PHASE LIKELY

guntur360
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  • The RSI on the daily chart of EUR/JPY indicates sustained bullish momentum.
  • Hourly chart shows an RSI below its mid-zone and MACD with rising red bars, pointing towards possible consolidation.
  • The EUR/JPY's position above main SMAs underscores a strong bullish bias.

The EUR/JPY slightly declined to 164.70 in Thursday’s session. That being said, the overall trend still favors the bulls but a consolidation phase, suggested by bears dominating the hourly chart, may create a balanced playing field for both buyers and sellers ahead of the Asian session


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