Daily analysis of EUR/JPY for June 7, 2018

EUR/JPY

It is interesting to see this cross going in a perpetual bullish manner, gradually breaching one supply zone after the other. Since testing the demand zone at 125.00, price has gained roughly 500 pips, thus making the bias on the market to turn bullish. Price is now above the demand zone at 129.50, targeting the supply zone at 130.00 and 130.50.

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The EMA 11 is now above the EMA 56, and the RSI period 14 is above the level 50. This shows a Bullish Confirmation Pattern in the chart. The fundamental figures coming for the markets are not strong today; but they may have impact.

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