The EUR/JPY pair initially fell below the 125 handle but found enough support to turn things back around to form a rather positive candle as we broke out
The EUR/JPY pair initially fell below the 125 handle but found enough support to turn things back around to form a rather positive candle as we broke out above the highs from the last couple of sessions. With this being the case, the market could very well try to grind its way to the 127.50 level, which is the resistance barrier that the markets struggled with last time. With this, we are willing to buy this market on a break above the top of the range for the session on Tuesday, were supportive candles as long as we can stay above the 125 handle.
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.
