FX.co ★ Daily analysis of EUR/JPY for April 3, 2018

EUR/JPY

The EUR/JPY is bearish in the long-term, and rather neutral in the short-term. The price pulled back on Monday, and that could harbinger a rise in volatility. However, the demand zone at 130.00, which has been tested already, could be tested and get breached to the downside.

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 the demand zones at 129.50 and 129.00 today.