• The RSI on the daily chart of EUR/JPY indicates sustained bullish momentum.
• Hourly chart shows an RSI below its mid-zone and MACD with rising red bars, pointing towards possible consolidation.
• The EUR/JPY's position above main SMAs underscores a strong bullish bias.

The EUR/JPY slightly declined to 164.70 in Thursday’s session. That being said, the overall trend still favors the bulls but a consolidation phase, suggested by bears dominating the hourly chart, may create a balanced playing field for both buyers and sellers ahead of the Asian session