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EUR/JPY forecast for the week of February 8, 2016, Technical Analysis

By:
Christopher Lewis
Published: Feb 6, 2016, 05:42 UTC

The EUR/JPY pair fell a bit during the course of the week, testing the 130 level for support. We did find it there, and as a result we could go higher.

EUR/JPY forecast for the week of February 8, 2016, Technical Analysis

The EUR/JPY pair fell a bit during the course of the week, testing the 130 level for support. We did find it there, and as a result we could go higher. However, we are bit hesitant to start buying this market as the candle is in exactly inspiring quite a bit of bullishness. A move below the 130 level could send this market looking for the 127 handle. Ultimately though, we think that this is more or less going to be a short-term trader’s type of environment going forward.

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About the Author

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.

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