EUR/JPY forms höhers High, which is confirmed by new high points in the MACD. The selling pressure could increase soon.
In the last two weeks has developed a bearish divergence between the price of the EUR/JPY and the MACD. Thus, the rate increase of the EUR/JPY has not been confirmed, which is interpreted as a “red flag warning”. In addition, the MACD line fell in the 4-hour chart below the zero line. This may also a possible trend change to the Negative ads.