Daily analysis of EUR/JPY for April 6, 2018

EUR/JPY

There is a weak "buy" signal on this cross, and it may become more significant when price begins to move further northwards. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. The possibility of price going upwards is stronger than the possibility of it going significantly southwards.

analytics5ac748dee7f06.png

There is now a Bullish Confirmation Pattern in the market, and that would become more important as price goes further northwards, reaching the supply zones at 131.50 and 132.00 very soon. A movement to the upside would mean bulls reign.

The material has been provided by InstaForex Company - www.instaforex.com