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.

EURJPYH1.png

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