The EUR/JPY pair initially tried to rally during the course of the week but turned right back around to form a bit of a very shooting star. I believe that
The EUR/JPY pair initially tried to rally during the course of the week but turned right back around to form a bit of a very shooting star. I believe that this market continues to go lower, but having said that it’s very difficult to place a longer-term trade as we are approaching a significant amount of support. Because of this, I prefer to trade offer short-term charts on signs of exhaustion. At this point in time, I have no plans to place a longer-term trade, but do recognize that the 110 level below been broken would be a significant move in favor of the sellers.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
