The EUR/JPY pair initially fell during the course of the week but turned back around in order to form a nice-looking hammer. This hammer essentially makes
The EUR/JPY pair initially fell during the course of the week but turned back around in order to form a nice-looking hammer. This hammer essentially makes a bit of a “double bottom” on longer-term charts, so having said that we feel that the market will probably try to bounce from here. As we got back above the 130 handle, it looks as if the market is ready to continue going much higher, and as a result we believe that the Euro will continue to gain against the Yen.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
