The EUR/JPY pair is settling at the 163.00 level, displaying a noteworthy shift favoring the sellers.
Increasing bearish pressure is shown by the RSI and MACD of both hourly and daily charts. Sellers appear to have control, after gaining the 20-day SMA. Buyers need to maintain control over the 100 and 200-day SMAs to prevent further bearish inclination. The EUR/JPY pair is settling at the 163.00level, displaying a noteworthy shift favoring the sellers.
These indicators, together, could suggest an ongoing bearish pressure for the EUR/JPY throughout the session. EUR/JPY hourly chart On the broader outlook, the EUR/JPY gives mixed signals from a technical analysis standpoint. On Friday, it fell below the 20-day Simple Moving Average , hinting at a possible bearish shift in the short-term trend. This could trigger increased selling pressure on the pair with the potential of further losses.
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