FX.co ★ Daily analysis of EUR/JPY for June 6, 2018

EUR/JPY

Some JPY pairs are rising and generating "buy" signals. EUR/JPY is no exception. Since testing the demand zone at 125.00, price has gained 400 pips and that is significant enough change the short-term trend in the market. Price is now above the demand zone at 128.50, targeting the supply zone at 129.00 and 129.50.

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, and it means price is expected to be going further and further upwards.