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FX.co ★ Daily analysis of EUR/JPY for May 14, 2018

Daily analysis of EUR/JPY for May 14, 2018

EUR/JPY

In a bearish outlook, EUR/JPY trended downwards on Monday and Tuesday, and then started to make a rally effort. It managed to close above the demand zone at 130.50 on Friday, in the context of a downtrend. It is much more likely that the rally would end up offering a clean opportunity to go short in the market at strategic supply zones.

Daily analysis of EUR/JPY for May 14, 2018

There is a Bearish Confirmation Pattern in the market. Unless the Euro gets strengthened considerably, there might be a reversal in favor of bears, which would enable the market to target the demand zones at 130.50, 130.00 and 129.50.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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