The EUR/JPY pair broke higher during the course of the week, clearing the top of the previous week in a sign of strength. We even broke above the 125
The EUR/JPY pair broke higher during the course of the week, clearing the top of the previous week in a sign of strength. We even broke above the 125 handle, but we have a massive shooting star that sits at the 127 level that will keep long-term traders away from this market. Having said that, we are waiting to see whether or not we get an exhaustive candle to start selling, or if we finally can break out for longer-term move. Currently, all buying would be done on a short-term chart.
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.
