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In Friday’s session, the EUR\/JPY pair is seen consolidating after a significant upward wave which took it near multi-year highs around 171.00, oscillating around the crucial 169.00 level. The stabilization at this junction is particularly corroborated by the proximity to the 20-day Simple Moving Average (SMA) near 169.60 which despite falling beneath, the cross will try to defend it as it serves as a strong support.<\/p>\n
The Relative Strength Index (RSI) on the daily chart reads a steady 53 now, reflecting balanced market sentiment between the buyers and the sellers. This neutral RSI implies that the market participants are currently eagle-eyeing further direction before making a move. The daily Moving Average Convergence Divergence (MACD) has recently registered a bearish crossover- an occurrence when the MACD line dived under the signal line. This crossover potentially signals ensuing short-term bearish pressure, opening up possibilities of a tempo correction or further consolidation before resuming the upward march.<\/p>\n
However, the broader bullish trend in the EUR\/JPY remains unaffected. The support formed by the 100- and 200-day Simple Moving Averages (SMAs) at around 164.00 and 161.00, respectively, form a major bastion against long-drawn bearish movements. Therefore, while recent sessions brought some hope to bear, these movements should be treated as corrective rather than any structural changes in the trend.<\/p>\n
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The daily RSI records a balanced reading at 50, while the MACD bears a bearish crossover. The pair stabilize near the 20-day SMA, with buyers trying to avoid losses beneath it. The underlying bullish trend remains intact, guarded by the 100- and 200-day SMAs. In Friday’s session, the EUR\/JPY pair is seen consolidating after a […]<\/p>\n","protected":false},"author":2,"featured_media":9408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,298,257,276,951,255,250,252,247,253,249,256,254],"class_list":["post-319755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-crosses","tag-cryptocurrency","tag-currencies","tag-eurjpy","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/319755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=319755"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/319755\/revisions"}],"predecessor-version":[{"id":319757,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/319755\/revisions\/319757"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/9408"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=319755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=319755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=319755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}