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EUR/JPY Forecast May 20, 2016, Technical Analysis

By:
Christopher Lewis
Updated: May 20, 2016, 05:09 UTC

The EUR/JPY pair fell during Thursday, testing the 123 handle. The market looks like it is trying to break down, but at this point in time there is a lot

EUR/JPY daily chart, May 20, 2016

The EUR/JPY pair fell during Thursday, testing the 123 handle. The market looks like it is trying to break down, but at this point in time there is a lot in the way of support. Because of this, I feel that this market is probably best left alone, so the market will have to give us a longer-term signal in order to get involved. The market will be monitored by us, and we will of course keep you informed on our thoughts about this pair. Keep in mind that the pair tends to follow stock markets and risk appetite in general.

Check out our new GBP/JPY daily forecast!

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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