Ella 
During Monday’s session, the EUR/JPY currency pair showed strong bullish momentum, rising to 168.52 points at one point, up 0.45%. However, underlying short-term indicators observed on the hourly chart suggest that EUR/JPY is about to fall, which could lead to profit-taking. If EUR/JPY extends its gains, investors are keeping a close eye on a potential retest of cycle highs above 170.00 in the coming sessions.
The daily chart shows that the Relative Strength Index (RSI) is within positive territory, indicating a buying bias. The RSI continues to trend higher, especially peaking at around 63, indicating strong buying momentum. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator histogram shows an increase in green bars, reinforcing the bullish outlook.
