The EUR/JPY pair is currently trading at 163.80, indicating a rise of 0.46%.
The daily EUR/JPY chart reveals a cautiously optimistic tone, despite a somewhat weakened RSI. Indicators on the hourly chart also suggest weakening buying momentum. If bulls fail to recapture the 20-day SMA, additional downside may be incoming. The cross maintains a positive long-term outlook, despite the short-term bearish impulses from sellers which breached through the 20-day Simple Moving Average .
EUR/JPY hourly chart From a broader perspective, the EUR/JPY is giving mixed signals. Notably, it has fallen below its 20-day Simple Moving Average today which may be seen as a bearish short-term indicator. However, it stays above both its 100-day and 200-day SMAs, suggesting a persisting long-term bullish trend. In summary, the technical indicators on both the daily and hourly charts present a mixed outlook for the EUR/JPY pair.
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EUR/JPY Price Analysis: Bears hold short-term dominance, bulls must defend the 20-day SMAIn Wednesday's session, EUR/JPY is trading with mild losses at 163.75.
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EUR/JPY Price Analysis: Bears show signs of presence, long-term bullish stronghold remains unchallengedThe EUR/JPY pair is currently trading at 163.13, exhibiting minimal losses.
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EUR/JPY Price Analysis: Bears need to wait for break below 162.75-162.70 confluence supportThe EUR/JPY cross struggles to capitalize on Friday's modest bounce from sub-163.00 levels or a one-and-half-week low and kicks off the new week on a subdued note.
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EUR/JPY Price Analysis: Bullish trend perseveres, bears confronts crucial SMAThe EUR/JPY pair currently trades at approximately 164.37, indicating a slight decrease.
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EUR/JPY Price Analysis: Bearish sentiment gains sway, 20-day SMA lostThe EUR/JPY pair is settling at the 163.00 level, displaying a noteworthy shift favoring the sellers.
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EUR/JPY Price Analysis: Bulls step in and momentum growsThe EUR/JPY currency pair currently trades at 164.78, demonstrating a daily gain of 0.28%.
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