Everyday analysis of EUR/JPY for May 16, 2018 888011000 110888 EUR/JPYAs it was anticipated earlier this week, and restated on Tuesday, the EUR/JPY cross has produced a bearish signal, which has cancelled the recent bullish effort in the market (for the bullish effort merely proffered opportunity to go long). The need zone at 129.50 is now being checked. There is a Bearish Confirmation Pattern in the market. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. More bearish motion is expected, which would move cost to the need zones at 129.00 and 128.50. The material has been offered by InstaForex Company-www.instaforex.com

By | May 16, 2018

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