The EUR/JPY pair fell significantly during the course of the day on Thursday, in reaction to the Bank of Japan not adding quantitative easing. Because of
The EUR/JPY pair fell significantly during the course of the day on Thursday, in reaction to the Bank of Japan not adding quantitative easing. Because of this, people started buying the Japanese yen in general, and with that being the case it brought this market down. Any rally at this point in time will be a bit suspect, and we will look for exhaustive candles to start selling on shorter-term charts. The 120 level could very well be the next target going forward, but we are probably going to have a lot of volatility between now and then.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
