EUR/JPY PRICE ANALYSIS: BULLS MAINTAIN MOMENTUM, POTENTIAL SHORT-TERM PULLBACKS ON THE HORIZON

• The daily chart of the EUR/JPY reveals strong buying momentum, backed by positive RSI and MACD readings.
• Hourly chart indicators show a possible easing off from overbought status, potentially hinting at a nearing correction.

In Monday's session, the EUR/JPY pair showed strong bullish momentum, registering a rise to 168.52, marking a favorable 0.45% shift. However, potential short-term wavering observed in the hourly chart's indicators, suggests an approaching cooling-off phase, which could lead to profit-taking. As the ascent continues, investors are monitoring for a possible retest of the cycle highs above 170.00 in future sessions.