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22.03.201805:00 Forex Analysis & Reviews: Daily analysis of EUR/JPY for March 22, 2018

Long-term review

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EUR/JPY

The currency trading instrument is quite choppy. There is a kind of consolidation in the market. The consolidation can continue this week, but a rise in momentum is also expected. When a breakout occurs, it will most likely be in favor of the bear. Right now, the market is experiencing some upswings and downswings in the short-term.

Generally, there is a Bearish Confirmation Pattern in the market, and it would become clearer as the price goes further downwards, owing to a bearish outlook on the cross. Therefore, initial targets may be put at the demand zones of 130.50, 130.00, and 129.50. A significant rally from here would render this expectation invalid.

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