The EUR/JPY currency pair stands at 164.71, reflecting a persistent bullish upsurge as it cleared daily losses and defended the 20-day Simple Moving Averages (SMA). However, caution is warranted considering the shifting market environment as the flattening momentum, revealed on the daily and hourly chart may cool down the bullish outlook. On the daily chart, the Relative Strength Index (RSI) pair is trending positive, at 58 but flattened. Simultaneously, the Moving Average Convergence Divergence (MACD) reveals red bars, hinting at a steady selling pressure. {chart} Taking into account the hourly chart, the latest RSI ... (full story)