In Wednesday's session, the EUR/JPY pair maintains robust bullish momentum, despite encountering selling pressure and declining to 168.63.
The daily RSI shows strong buying momentum, deep in positive territory. Hourly chart displays a contrast, as RSI dips into the negative zone and MACD shows flat red bars, indicating short-term selling traction. As the pair approached cycle highs, a pause in the momentum seemed probable before a retest. In Wednesday's session, the EUR/JPY pair maintains robust bullish momentum, despite encountering selling pressure and declining to 168.63. Despite brushing against highs around the 170.
However, indicators seem to recover in this frame ahead of the Asian session. EUR/JPY hourly chart Reflecting on EUR/JPY's broader picture, it's in a bullish short- and long-term position as it stays above the 20, 100, and 200-day SMAs. This posture suggests a strong upward momentum for the pair, poised for continued bullishness.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/JPY Price Analysis: Bulls make a stride and reclaim the 20-day SMAThe EUR/JPY pair is trading at 164.22, recording a slight uptick on Tuesday’s session.
Read more »
EUR/JPY Price Analysis: Bulls Maintain Control, consolidation phase likelyThe EUR/JPY slightly declined to 164.70 in Thursday’s session.
Read more »
EUR/JPY Price Analysis: Bulls continue dominating, yet a consolidation may be incomingThe EUR/JPY stands at 165.68, trading with mild gains still in multi-year highs.
Read more »
EUR/JPY Price Analysis: Bears lose ground and bulls reclaim the 20-day SMAOn Tuesday, the EURJPY rose by 0.36% to 166.35, and successfully secured a position above the key 20-day Simple Moving Average (SMA), alluding to the prevailing power of the bulls in the current market.
Read more »
EUR/JPY Price Analysis: Bulls maintain the reign and step over the bearsThe EUR/JPY pair continues to exhibit strong momentum, displaying gains of 0.55% on Wednesday.
Read more »
EUR/JPY Price Analysis: Bulls maintain momentum, potential short-term pullbacks on the horizonIn Monday's session, the EUR/JPY pair showed strong bullish momentum, registering a rise to 168.52, marking a favorable 0.45% shift.
Read more »