The daily RSI wasrejected 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.
This value is notably lower than the daily readings, suggesting that sellers might be gaining some ground in the short term. In addition, the MACD prints red bards which adds arguments to the growing selling pressure on the shorter timeframes.
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