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Daily analysis of EUR/JPY for March 28, 2018

Posted On 28 Mar 2018
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EUR/JPY

A bullish signal (“buy” signal) has already been generated on this cross. Price rallied massively yesterday, rising from the demand zone at 129.50, and ramming into the supply zone at 131.50. However, a correction was experienced at that level. Further bearish correction would result in invalidation of the bullish signal.

A Bullish Confirmation Pattern has been generated in the market, and that would become more and more significant as price moves higher and higher. A pullback along the way could threaten the nascent bullish bias.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Daily analysis of EUR/JPY for March 28, 2018

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