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EUR/JPY Price Analysis: Bulls maintain control, bears are not done yet and appear to gear up

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The EUR/JPY pair stands at 168.11 under strong bull control, reflecting a steady uptrend with a 0.38% gain on Tuesday.

Daily indicators are pulling back, but remain reem in positive zone. For the short-term, the hourly chart indicators reveal a continued bullish bias, with a possibility of minor retractions. Fundamentals favored the bears on Monday, and the Yen was one of the best-performing currencies. The EUR/JPYpair stands at 168.11 under strong bull control, reflecting a steady uptrend with a 0.38% gain on Tuesday.

Most recently, the RSI is deep in the positive territory, and along with a flat green MACD, indicates that buyers currently dominate the market; however, a near overbought signal suggests potential furtherconsolidation or pullback in the next sessions. EUR/JPY daily chart Transitioning to the hourly chart, the RSI oscillates largely within a positive range.

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