EUR/JPY Forecast September 17, 2012, Technical Analysis
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The EUR/JPY pair shot straight up on Friday after triggering the buy orders from the hammer formed on Thursday. The 100 level is in the rearview mirrors at this point in time, and as such we think that this pair will continue to rise over time. Obviously, with the long green candle from the Friday session, a pullback could be expected. We will use those pullbacks in order to buy this pair as we think we will eventually see the 105 handle, if not the 110 handle. As for selling this currency pair, we will not do it until we get below the 98 handle.
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Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.
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