FX.co ★ Daily analysis of EUR/JPY for April 11, 2018

EUR/JPY

The EUR/JPY cross is bullish in the short-term. The price has risen by 130 pips this week, and it has tested the supply zone at 132.50. The supply zone would be breached to the upside as price goes towards another supply zone at 133.00. There may be transient corrections along the way, but bulls would prevail.

The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. There is a Bullish Confirmation Pattern in the market. Long trades are recommended because pullbacks may be temporary.