EUR/JPY
The EUR/JPY is kind of consolidating in the context of an uptrend. The supply zone at 133.00 has been tested and it would be tested again. The targets at the supply zones at 133.00, 133.50, and 134.00, remain valid, and they may be breached. They may even be exceeded as the price journeys further upwards this week.
There is a Bullish Confirmation Pattern in the market, which would become more and more serious as the price goes northwards. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. The price action also reveals that bulls are intent on pushing the price further upwards.
The material has been provided by InstaForex Company - www.instaforex.com
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