EUR/JPY
What happened to this cross is quite similar to what happened to the USD/JPY pair, due to the stamina in JPY. Yesterday, the price went lower by 150 pips, testing the demand level at 126.50. The demand level may also be breached to the downside as the price continues to get weakened lower and lower.
This week, the demand zones at 126.50, 126.00, and 125.50 may be reached. There could be occasional upward bounces along the way, but the price is expected to continue going downwards. There is now a Bearish Confirmation Pattern in the market.
