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FX.co ★ Daily analysis of EUR/JPY for May 30, 2018

Daily analysis of EUR/JPY for May 30, 2018

EUR/JPY

The initial targets for this week have already been met, and the EUR/JPY cross still has much room to go southwards. As anticipated, there is now a transitory upwards bounce in the market, but price would resume its downwards journey. The next targets are the demand zones at 125.00 and 124.50.

Daily analysis of EUR/JPY for May 30, 2018

There is already a Bearish Confirmation Pattern in the market. The EMA 11 is below the EMA 56 and the RSI period 14 is below the level 50. This is a bear market, and long trades are not currently logical, owing to a measure of stamina in JPY.

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