EUR/JPY Price Analysis: Bullish push persists, eyes on waning momentum
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EUR/JPY Price Analysis: Bullish push persists, eyes on waning momentum

  • Flattening indicators on the daily chart may signal a period of consolidation.
  • The flat RSI slope and falling MACD bars on the hourly chart translate into a neutral sentiment for the session.

The EUR/JPY currency pair stands at 164.71, reflecting a persistent bullish upsurge as it cleared daily losses and defended the 20-day Simple Moving Averages (SMA). However, caution is warranted considering the shifting market environment as the flattening momentum, revealed on the daily and hourly chart may cool down the bullish outlook.

On the daily chart, the Relative Strength Index (RSI) pair is trending positive, at 58 but flattened. Simultaneously, the Moving Average Convergence Divergence (MACD) reveals red bars, hinting at a steady selling pressure.

EUR/JPY daily chart

Taking into account the hourly chart, the latest RSI value is just above the middle ground at 53, also with a flat slope. This signifies neutrality within the market. Meanwhile, the MACD decreasing green bars, signaling a potential slowdown in the upward pressure.

EUR/JPY hourly chart

In light of the recent market conditions, the EUR/JPY lies above its 20,100, and 200-day SMA, depicting a sturdy ascending pattern in its broader outlook. It suggests the pair have shown resilience in maintaining the bullish momentum both from a short-term and long-term perspective. On Friday, the cross held onto the 20-day SMA at 164.00, suggesting that the bulls remain resilient. Essentially, if the pair continues to stay above the SMA's, it could extend its upward trajectory, enhancing its technical stance in the forthcoming sessions.



Today last price 164.64
Today Daily Change 0.05
Today Daily Change % 0.03
Today daily open 164.59
Daily SMA20 164.02
Daily SMA50 163.02
Daily SMA100 160.71
Daily SMA200 159.65
Previous Daily High 164.96
Previous Daily Low 164.35
Previous Weekly High 165.18
Previous Weekly Low 162.28
Previous Monthly High 165.36
Previous Monthly Low 160.22
Daily Fibonacci 38.2% 164.58
Daily Fibonacci 61.8% 164.73
Daily Pivot Point S1 164.31
Daily Pivot Point S2 164.03
Daily Pivot Point S3 163.71
Daily Pivot Point R1 164.91
Daily Pivot Point R2 165.23
Daily Pivot Point R3 165.51