Everyday analysis of EUR/JPY for April 12, 2018 888011000 110888 EUR/JPYRate has actually increased by 130 pips this week, to evaluate supply zone at 132.50. There is currently a shallow bearish retracement which follows the test of the supply zone, and the bearish retracement needs to be included at the demand zone of 131.00 (a worst-case scenario). The marketplace is expected to go upwards from here. The EMA 11 is above the EMA 56, and the RSI period 14 is not yet below the level 50. There is a Bullish Verification Pattern in the market. Long trades are advised due to the fact that pullbacks may be momentary. The material has been provided by InstaForex Company-www.instaforex.com

By | April 12, 2018

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