The EUR/JPY pair is currently trading around 162.85, representing a decline of 0.30% during Monday's session.
Significant selling momentum is revealed in the daily chart as the RSI slips into negative zones while MACD signifies growing negative traction. In line with the daily chart, the hourly indicators show mounting selling pressure. The recent dip beneath the 20-day SMA may suggest a possible short-term bearish realignment. The EUR/JPY pair is currently trading around 162.85, representing a decline of 0.30% during Monday's session.
EUR/JPY hourly chart Scrutinizing the broader outlook, EUR/JPY portrays a blend of bullish and bearish signals. A bullish stance manifests through its standing above the 100-day and 200-day Simple Moving Averages , revealing a positive trend for the pair in the long run. However, the cross has dipped just below the 20-day SMA today, inferring a potential bearish shift in the short term.
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