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16.04.2018 01:23 PM
Daily analysis of EUR/JPY for April 16, 2018

EUR/JPY

The EUR/JPY pair is bearish in the long-term, and now bullish in the short-term. It has gained roughly 250 pips this month, and it can gain another 250 pips before the end of the month. That is something that can bring about a long-term bullish outlook on the market as it goes through the supply zones at 133.00, 133.50 and 134.00, even exceeding those supply zones as price goes further and further northwards.

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There is a Bullish Confirmation Pattern in the market, which would become more and more serious as price goes northwards. Short trades are not recommended here.

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