The EUR/JPY pair fell during the course of the week, testing the bottom of the hammer from the previous week. We think there is plenty of support below
The EUR/JPY pair fell during the course of the week, testing the bottom of the hammer from the previous week. We think there is plenty of support below though, so it’s only a matter time before we bounce. The 130 level below is massively supportive as well, so really this point time we don’t have any interest in selling. Ultimately, we think that this is a market that’s probably easier to trade on short-term charts than anything else, so having said that we will more than likely stay on the sidelines as far as long-term trades are concerned.
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.
