Daily analysis of EUR/JPY for April 10, 2018

EUR/JPY

The market is bullish in the short term. There is a slow and gradual bullish movement in the market, which means the supply zones at 132.00, 132.50 and 133.50 would be tested before the end of this week. The bullish bias would become stronger as more and more buyers get into the markets.

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The supply zones at 131.50, 132.00 and 132.50 could be reached when a bullish movement begins. Right now, the risk of a large pullback is low, unless there is a fundamental factor which negates the bullish expectation.

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