DailyBubble News
DailyBubble News

Bullish forces steering the market, minor pullbacks possible

The EUR/JPY continues to show bullish momentum, with the daily RSI moving from 44 to 60 in recent sessions. This positive trend is supported by the MACD indicator, indicating further progression of the uptrend.

On the hourly chart, the RSI dipped to 53, signaling a temporary pause in the bullish momentum as sellers gain traction. However, the overall outlook remains bullish.

The EUR/JPY reached 167.85 on Friday, driven by market buyers. Short-term sellers may cause temporary pullbacks, but the daily RSI and MACD suggest that buyers are still in control.

The hourly chart shows a slight pullback in the RSI and the formation of negative momentum in the MACD. Despite this, the dominant daily bullish trend remains intact.

In summary, the EUR/JPY is trading above its Simple Moving Averages for the 20, 100, and 200-day periods, indicating strong buyer control in the market.

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