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

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Forex Analysis:::2018-06-06T03:42:41

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.

Daily analysis of EUR/JPY for June 6, 2018

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.

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