EUR/JPY Price Analysis: Bulls meet resistance around 162.00, momentum weak
|- The daily MACD and RSI suggest a flat momentum with bulls taking a breather following a recent recovery.
- A robust resistance persists at 162.00 and bulls keep on getting rejected.
The EUR/JPY pair experienced minor gains on Monday, with the bulls unable to surpass the 162.00 area. In case they fail to conquer this threshold, the downside may resume.
The daily Relative Strength Index (RSI) has outlined a slight increase but remains deep below 50, suggesting a steady selling pressure pressure. The MACD bars remain flat and red, signaling subdued bearish momentum.
EUR/JPY Daily Chart
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