Auf/jpy. Give me analysis for today

The EUR/JPY pair is showing signs of potential downward correction due to overbought conditions. Here's an analysis for today:

1. Technical Analysis:
   • The pair is currently trading above 107.00, with indicators suggesting a possible downward correction due to overbought conditions.
   • The Relative Strength Index (RSI) for EURJPY has settled at 80, which may provoke a downward correction as it flags the pair as overbought.
   • The Moving Average Convergence Divergence (MACD) portrays growing green bars, signifying bullish momentum, but also indicates a potential adjustment due to overbought conditions.
2. Market Sentiment and Positioning:
   • There is a general bearish bias for the pair, as indicated by the Super Trend showing a clear sell signal.
   • The price is coiling around a solid key level of 100.21, which could act as a support level if the pair were to correct.
3. Risk and Volatility Factors:
   • The pair is generally taking a pause as buyers hold off, and given its status in the multi-year, the probability of further corrections is imminent.
   • Overbought conditions, as indicated by the RSI, are healthy for the pair in the short term but may lead to a necessary correction.
4. Support and Resistance Levels:
   • Key support levels for the EUR/JPY pair include the 20-day Simple Moving Average (SMA) at 104.90 and the 106.00 level.
   • Resistance levels are seen at the 107.00 and 107.30 levels, which the pair has recently struggled to surpass.
5. Broader Market Context:
   • The pair's position above the 20-day, 100-day, and 200-day SMAs suggests a bullish sentiment, but the overbought conditions could lead to a pullback.
   • The overall outlook for the pair remains bullish, but traders should monitor for potential corrections given the indicators for overbought conditions.

In conclusion, the EUR/JPY pair is showing signs of potential downward correction due to overbought conditions, as indicated by the RSI and MACD. Market sentiment suggests a bearish bias, and the pair is trading above key support levels. Investors should monitor these factors closely and consider the potential impact of broader market conditions on the currency pair.