Advertisement
Advertisement

EUR/JPY forecast for the week of August 8, 2016, Technical Analysis

By:
Christopher Lewis
Published: Aug 6, 2016, 04:51 UTC

The EUR/JPY pair fell during the course of the week, breaking down to the 112.50 region. This is a market that looks like it is ready to continue going

EUR/JPY weekly chart, August 08, 2016

The EUR/JPY pair fell during the course of the week, breaking down to the 112.50 region. This is a market that looks like it is ready to continue going lower, perhaps reaching down to the 111 level given enough time. However, that isn’t much in the way of room on the longer-term charts, so I prefer to short this market off of shorter-term charts, perhaps the daily chart, or even possibly lower time frames than that. Ultimately, I do think we test the 111 level yet again, and an attempt to finally break down.

About the Author

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.

Did you find this article useful?

Advertisement