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.
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.
