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).
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 .
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.
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