The EUR/JPY pair currently trades at approximately 164.37, indicating a slight decrease.
Continued placement of EUR/JPY above key SMA levels shows strong bullish sentiment. The daily chart indicators reveal a loss of the bullish momentum. The hourly RSI and rising MACD depict short-term buyers' shift to regain momentum. The pair's approach towards the key SMA level at 163.09 raises the possibility of a trend shift.
During these hours, the Moving Average Convergence Divergence histogram prints rising green bars, indicating positive momentum. EUR/JPY hourly chart For a broader outlook, the EUR/JPY displays significant strength, remaining steadfast above its three crucial Simple Moving Averages of 20, 100 and 200-day SMAs. Such positioning generally indicates a sustainable bullish climate, with strong implications for the short and long-term trend.
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