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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.



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Daily analysis of EUR/JPY for May 16, 2018


As it was forecasted earlier this week, and reiterated on Tuesday, the EUR/JPY cross has generated a bearish signal, which has cancelled the recent bullish effort in the market (for the bullish effort simply proffered opportunity to go long). The demand zone at 129.50 is now being tested.


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. Further bearish movement is anticipated, which would propel price towards the demand zones at 129.00 and 128.50.

The material has been provided by InstaForex Company -