FX.co ★ Daily analysis of EUR/JPY for April 2, 2018

EUR/JPY

The EUR/JPY is bearish in the long-term, and rather neutral in the short-term. Price is currently choppy as things are now in a range. There is a supply zone at 132.00 and a demand zone at 130.00.

As long as the price saunters between these two zones, the short-term neutrality will hold. There is a higher probability that the price will go southwards (in agreement with the long-term outlook) when a breakout does occur. There is still a Bearish Confirmation Pattern in the market, and that would become more important as the price goes further downwards, reaching other demand zones.