Daily analysis of EUR/JPY for March 8, 2018

EUR/JPY

In the last several hours, nothing much has happened on this cross. Right now, the EMA 11 is almost crossing the EMA 56 to the upside, and the RSI period 14 is above the level 50. A strong rally will help bring about a bullish bias on the market. Some fundamental figures are expected today and they may have impact on the market.

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There is still a Bearish Confirmation Pattern in the market, but the recent rally has become a threat to the extant bearish outlook. Nonetheless, a strong rally is in the offing, as the outlook on EUR pairs is bullish for this week.

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