The EUR/JPY is bearish in the long-term, and rather neutral in the short-term. The price pulled back on Monday, and that could harbinger a rise in volatility. However, the demand zone at 130.00, which has been tested already, could be tested and get breached to the downside.
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 the demand zones at 129.50 and 129.00 today.
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. The price pulled back on Monday, and that could harbinger a rise in volatility. However, the demand zone at 130.00, which has been tested already, could be tested and get breached to the downside.
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 the demand zones at 129.50 and 129.00 today.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: