EURJPY Technical Analysis and Market Outlook
Tuesday, 9 July 2024, 08:19
EURJPY Technical Analysis
EURJPY reached a significant milestone by breaching the key resistance level of 174.60, sparking market interest.
Market Sentiment
Traders are cautious as technical indicators suggest an overbought market condition, potentially leading to a price correction. The RSI is approaching the overbought territory above 70, while the MACD shows signs of weakening momentum.
- EURJPY surged to a new multi-year high of 174.60.
- RSI is nearing the overbought level of 70.
- MACD is losing strength above its key lines.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.