EUR/JPY PRICE ANALYSIS: BULLISH MOMENTUM UPHELD, SHORT-TERM MARKET CORRECTION ON THE HORIZON... hagijeee から-フォローミートレーディングコミュニティ

24 Mar 2024, 17:33 · Views 137

The daily RSI was rejected near the overbought region.
Hourly chart indicators show a shift in short-term dynamics, with sellers gaining ground.
Despite the signs of potential short-term bearish correction, the pair still holds above key SMAs, denoting an overall bullish trend.

The EUR/JPY pair shows slight losses of 0.26% during Thursday's session. Despite sporadic fluctuations, there is a largely upward trend, indicating a strong position for buyers. Yet, recent subtle signs of selling pressure hint at a potential challenge to the continuity of the bullish trend for the next sessions.

On the daily chart, the Relative Strength Index (RSI) shows an overall positive trend. However, imminent overbought conditions suggest a possible downward retracement could soon emerge as buyers may continue taking profits. In addition, the Moving Average Convergence Divergence (MACD) continues to print green bars, suggesting a steady buying momentum

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