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EURJPY retreats below 50-SMA but retains bullish outlook
EURJPY has been experiencing a decline in the last few daily sessions after its latest advance paused at the 142.31 region. Although the pair managed to cease its drop, its upside remains capped by the congested region that includes its 50-day simple moving average (SMA) and the upper boundary of the Ichimoku cloud. The momentum indicators suggest that negative momentum is strengthening. Specifically, the stochastic oscillator is sloping downwards near the 20-oversold area, while the RSI is hovering below its 50-neutral threshold. Should selling pressure intensify further, the recent low of 138.70 could act as the ... (full story)