This cross is now consolidating in the short-term, and in the context of an uptrend. Price is now above the demand zone at 133.00, going towards the supply zone at 133.50, which would be tested and get breached to the upside. This would be realized when momentum in the market rises, which is expected to favor bulls.
There is a Bullish Confirmation Pattern in the market. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. The next targets may be the supply zones at 133.50, 134.00, and 134.50.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/JPY
This cross is now consolidating in the short-term, and in the context of an uptrend. Price is now above the demand zone at 133.00, going towards the supply zone at 133.50, which would be tested and get breached to the upside. This would be realized when momentum in the market rises, which is expected to favor bulls.
There is a Bullish Confirmation Pattern in the market. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. The next targets may be the supply zones at 133.50, 134.00, and 134.50.
The material has been provided by InstaForex Company – www.instaforex.com
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