FX.co ★ Daily analysis of EUR/JPY for May 15, 2018

Daily analysis of EUR/JPY for May 15, 2018

EUR/JPY

In a bearish outlook, the EUR/JPY pair did nothing significant on May 14. A significant movement will happen this week, which may favor, either the bears or the bulls. Bears are the most likely to be favored, as it is much more probable that the rally would end up proffering a clean opportunity to go short in the market at strategic supply zones.

There is a Bearish Confirmation Pattern in the market. Price has moved between the demand zone at 130.00 and the supply zone at 131.50 this week – and one of the boundaries would soon be exceeded.