The EUR/JPY pair fell significantly during the course of the week, but we did bounce a little bit towards the end of it in order to show some signs of
The EUR/JPY pair fell significantly during the course of the week, but we did bounce a little bit towards the end of it in order to show some signs of support. Ultimately though, this is a negative market and any rally at this point in time should be a selling opportunity given enough time. On the other hand, we could break down below the bottom of the range for the week and that would of course be a selling opportunity as well but we do recognize that the 125 level is just underneath there. We need to get underneath that in order to continue going lower due to the psychological significance of that particular level.
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.
