EUR/JPY looking for a rebound at demand zone

EUR/JPY looking for a rebound at demand zone

EUR/JPY remains confined in a range that hovers around the 200 SMA at H1 chart. According to our forecast, the pair is pointing to reach a demand zone established between the 134.67 and 134.18 level, at which we can expect a rebound to take place in order to rally towards the -23.6% Fibo zone at 137.07. To invalidate the mentioned scenario, the pair should break below the 65% level.

RSI indicator is moving in the negative territory.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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