The EUR/JPY pair initially fell during the day on Wednesday, but turn right back around to form a hammer. By doing so, it looks as if the buyers are
The EUR/JPY pair initially fell during the day on Wednesday, but turn right back around to form a hammer. By doing so, it looks as if the buyers are starting to return to this market, and will more than likely try to push the pair towards the 125 level above. Pullbacks should continue to see buying pressure, as it appears we are more than willing to see quite a bit of volatility in this market. The 125 level above is massively resistive though, so probably take something special to break through it.
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.
