FX.co ★ Daily analysis of EUR/JPY for April 17, 2018

EUR/JPY

There is now a bullish bias on this cross, which has gained roughly 250 pips this month, and it can gain another 250 pips before the end of the month. The targets at the supply zones at 132.00, 133.00 and 133.50, remain valid. They may even be exceeded as price journeys further upwards this week.

There is a Bullish Confirmation Pattern in the market, which would become more and more serious as price goes northwards. The price action also reveals that bulls are intent on pushing price further upwards. Short trades are not yet recommended.