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The EUR/JPY pair fell during the session on Tuesday, as we retested the 100 handle. This level looks to be holding as somewhat supportive at the moment, and as such we think that supportive candles could be a decent buy at this point time. Remember though, this pair does tend to be a "risk on" type of market, and as such we do need help from other indices in markets in order to "feel good enough" to start buying this pair.
If the risk appetite of the world picks up over the next 24 to 3048 hours, we think that we could get a significant bounce at this point as this was the "breakout point." We do like buying this pair at the moment, as the Bank of Japan is currently working against the value of the Yen as well. Nonetheless, we need to see 100 prove itself as supportive in order to do so.