The EUR/JPY pair fell slightly during the course of the day on Monday, testing the 113 level for support. The fact that the market bounced a bit those
The EUR/JPY pair fell slightly during the course of the day on Monday, testing the 113 level for support. The fact that the market bounced a bit those shows that it is somewhat supported below, and with that being the case the market will more than likely try to reach down to the 112 level. If we can break down below there, I feel that the market will then reach down to the 110 level below. Rallies at this point in time should be selling opportunities, as soon as we see signs of exhaustion.
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.
