EUR/JPY Forecast August 3, 2012, Technical Analysis
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The EUR/JPY pair fell drastically after initially gaining during the Thursday session once the ECB made it clear he wasn’t prepared to do anything right away. This was a major disappointment for the markets that have come to learn that central banks can be the savior of all, and as such the risk appetite for traders around the world collapsed.
The market looks like it’s ready to head back down to the lows of the 94 handle, and possibly even lower. With the nonfarm payrolls number coming out later today, it is hard to tell what will happen, so this market might be best left alone in till the end of the trading session.
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Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.
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