EUR/JPY PRICE ANALYSIS: BUYERS MAINTAIN STRONGHOLD, IMPENDING OVERBOUGHT CONDITIONS SIGNAL POSSIBLE DOWNTURN

• The EUR/JPY rallied in Tuesday’s session, seeing more than 1% gains.
• The daily RSI reveals growing buying momentum, deep in positive territory.
• The hourly chart hints at overbought conditions, and the RSI staying above 70 signals the potential for profit-taking sell-offs.

In Tuesday's session, the EUR/JPY pair is trading around the 164.00 region, marking a strong rally of 1.14%. The daily outlook is tilting in favor of the buyers while overbought conditions seen on the hourly chart suggest that consolidation is on the horizon.

On the daily chart, the pair exhibits increasing momentum, as indicated by the latest Relative Strength Index (RSI) values. Moving from negative territory, the recent RSI trajectory consolidated in positive territory, lately peaking at 65 which is approaching overbought status. Currently, buyers dominate the market, leading to the possibility of the pair moving into overbought conditions soon