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09.03.201808:11 Forex Analysis & Reviews: Daily analysis of EUR/JPY for March 9, 2018

Long-term review

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EUR/JPY

The market continues to move in a sideways mode, which means there could be a breakout soon. Right now, the EMA 11 is slightly above the EMA 56 to the upside, and the RSI with period 14 is above the 50 level. A strong rally will trigger a bullish bias on the market.

This cross has become a choppy market in the short-term, without any directional movement in the last few days. However, a breakout is imminent today or early next week, and it could go in favor of bulls.

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