What is the sentiment for eurjpy right 3

The sentiment for EURJPY is currently neutral with a slight bearish bias. Here is the analysis:

1. Technical Indicators: The EURJPY pair is trading below the 100-day Exponential Moving Average (EMA) of 163.15, which suggests a slight bearish trend. However, the Relative Strength Index (RSI) is neutral at 50, indicating a lack of strong momentum in either direction.
2. Recent Price Action: The pair has recently tested the support level at 162.20 and faced resistance at 163.15. The recent trading around 163.200, below the downtrend channel, suggests signs of exhaustion. The retest of the broken structure at 163.260 indicates a potential for a reversal or a continuation of the trend.
3. Market Sentiment: The overall market sentiment is cautious, with a focus on upcoming ECB and BoC policy decisions. The ECB's expected rate cut could lead to a weaker EUR, while the BoC's decision to hold rates could support the JPY. These events could potentially trigger some volatility in the pair, but it is unclear whether they will lead to a sustained trend.
4. Long-Term Outlook: The long-term trend appears to be bullish, with a medium top formed at 171.58 after a brief breach of 169.96. However, this long-term trend is tempered by the ongoing consolidation within the recent range.

In conclusion, while there is a slight bearish bias in the short-term technical indicators, the overall sentiment and recent price action suggest that the EURJPY pair is more likely to continue consolidating rather than trending strongly in one direction. The upcoming policy decisions by the ECB and BoC could provide some catalysts for movement, but it is unclear whether they will lead to a sustained trend.