The EUR/JPY pair fell significantly during the day on Wednesday as we continue to grind down to the 112 level. Short-term rallies should continue to be a
The EUR/JPY pair fell significantly during the day on Wednesday as we continue to grind down to the 112 level. Short-term rallies should continue to be a nice selling opportunity, as I recognize the 160 level above continues to be the “ceiling” in this market. Ultimately, I think we sell and sell again, and I have no interest in buying this particular market, even though I anticipate that the 112 level could cause a little bit of a bounce. A break down below there of course could accelerate the downward pressure going forward.
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.
