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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 21, 2018

EUR/JPY

The EUR/JPY pair has failed to go seriously upwards like its USD/JPY counterpart. The bias on this cross is bearish, but it is a precarious bias. What the market did last week was a zigzag movement without a clear directional propensity (although the general outlook still remains bearish).

analytics5b02b50bac910.png

The price moved upwards, downwards, and upwards again, within the supply zone at 131.50 and the demand zone at 129.50. A 200 –pip movement to the upside or to the downside would easily change the bias to bullish or bearish, and that is exactly what is expected this week.

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