The EUR/JPY is bearish in the long-term, and rather neutral in the short-term. Price is currently choppy as things are now in a range. There is a supply zone at 132.00 and a demand zone at 130.00.
As long as the price saunters between these two zones, the short-term neutrality will hold. There is a higher probability that the price will go southwards (in agreement with the long-term outlook) when a breakout does occur. There is still a Bearish Confirmation Pattern in the market, and that would become more important as the price goes further downwards, reaching other demand zones.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/JPY
The EUR/JPY is bearish in the long-term, and rather neutral in the short-term. Price is currently choppy as things are now in a range. There is a supply zone at 132.00 and a demand zone at 130.00.
As long as the price saunters between these two zones, the short-term neutrality will hold. There is a higher probability that the price will go southwards (in agreement with the long-term outlook) when a breakout does occur. There is still a Bearish Confirmation Pattern in the market, and that would become more important as the price goes further downwards, reaching other demand zones.
The material has been provided by InstaForex Company – www.instaforex.com
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