EUR/JPY
The long-awaited bearish bias has already surfaced on this cross. The price plunged yesterday, breaching the supply zone at 129.50 to the downside. The demand zone at 129.00 was tested before the price bounced upwards (temporarily). The demand zone at 129.00 would be tested once again, and get broken to the downside, as the market moves further downwards.
There is a Bearish Confirmation Pattern in the market, and it has become clearer as price goes further downwards owing to a bearish outlook on the cross. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50.
