The EUR/JPY pair initially tried to rally during the course of the week but turned right back around to form a shooting star. The shooting star suggesting
The EUR/JPY pair initially tried to rally during the course of the week but turned right back around to form a shooting star. The shooting star suggesting that the downward pressure will continue, perhaps breaking down to the 120 level. However, there isn’t much in the way of room, so we prefer to short this market off of lower timeframe such as the daily chart, or even perhaps the 4-hour chart. We have no interest in buying this market at the moment as it seems to be very bearish.
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.
