FX.co ★ EUR/JPY

Hello traders. EUR/JPY. Euro/Yen continues its northern march today, although I expected bears to start playing after the lunch break. At the moment, this is not yet noticeable, although hints are starting to appear. On the hourly chart, indicators continue to point north, and the pair once again responded to a buy signal intraday today. Moreover, the Bollinger Band is still expanding, indicating an unfinished upward impulse. However, one of the lagging indicators has stopped supporting the bullish sentiment. Additionally, there was another close above the upper Bollinger Band boundary, leaving new debts to the south. Therefore, in the near future, I expect a downward movement with a target around 183.20 in the short term. On the 4-hour chart, indicators are also fully in favor of further movement in the northern direction. Here too, the Bollinger Band is still expanding, indicating the likelihood of the current upward impulse continuing. However, one of the lagging indicators here has sharply stopped supporting the bearish sentiment, even showing a bearish divergence. This does not indicate a reversal, but we may see a local correction aiming to test the middle MA.