Anna 
The EUR/JPY pair is currently trading at 164.25, marking a decrease of 0.30% in Wednesday’s session. Despite maintaining its position above key Simple Moving Averages (SMAs), the pair appears to be undergoing a potential shift in momentum from bulls to bears, as indicated by weakening technical indicators.
On the daily chart, the Relative Strength Index (RSI) for the pair remains in positive territory but is showing a downward trend. Additionally, there has been a notable decline in the green bars of the Moving Average Convergence Divergence (MACD), suggesting a potential decrease in positive market momentum. This indicates that the influence of buyers may be diminishing, paving the way for a possible cooldown in the pair’s movement.
Traders are advised to monitor these technical indicators closely for further confirmation of the momentum shift. A sustained downtrend in the RSI and MACD could signal a stronger bearish sentiment, potentially leading to further downside movement in the EUR/JPY pair.
