EUR/JPY
The situation on this cross pair remains unchanged. It can be rightly said that the price is now ranging, which would eventually bring about a neutral bias in the market. The sideways movement is expected to continue for some time, but it would eventually end as volatility arises in the market.
The formation of the EMAs 11 and 56, and the RSI period 14 indicates some neutrality in the market. A rise from here would make the EMA 11 to stay above the EMA 56, and a fall from here may force the EMA 11 to go below the EMA 56.
The material has been provided by InstaForex Company - www.instaforex.com
No comments:
Post a Comment