This cross is bearish in the long term, and rather neutral in the short term. Another reality is that the market condition is currently choppy, but that might come to an end when a rally occurs in the market. There is a strong likelihood of a rally here, owing to a bullish expectation on JPY pairs for this week.
The supply zones at 131.50, 132.00 and 132.50 could be reached when a bullish movement begins. There is now a Bullish Confirmation Pattern in the market, and that would become more important as price goes further northwards.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/JPY
This cross is bearish in the long term, and rather neutral in the short term. Another reality is that the market condition is currently choppy, but that might come to an end when a rally occurs in the market. There is a strong likelihood of a rally here, owing to a bullish expectation on JPY pairs for this week.
The supply zones at 131.50, 132.00 and 132.50 could be reached when a bullish movement begins. There is now a Bullish Confirmation Pattern in the market, and that would become more important as price goes further northwards.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: