The EUR/JPY pair broke down initially during the course of the week but bounced enough towards the end in order to form a bit of a hammer. With this being
The EUR/JPY pair broke down initially during the course of the week but bounced enough towards the end in order to form a bit of a hammer. With this being the case, the market could bounce towards the 135 handle again and as a result a break above the top of the hammer could be the signal in order to start buying again. We have no interest in selling, now that we have formed a hammer for the week. In fact, we believe that this market will simply be volatile, but ultimately steady in its decline.
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.
