The EUR/JPY pair initially fell during the course of the week but turned right back around and form a hammer. The hammer of course is bullish, but at this
The EUR/JPY pair initially fell during the course of the week but turned right back around and form a hammer. The hammer of course is bullish, but at this point I still feel that there is a significant amount of resistance above that should continue to find sellers just above. I think that we are simply going to “tighten up” in this general vicinity, and with that I’m not interested in going long. On the other hand, if we break down below the bottom of the hammer for the week, that would be a very negative sign.
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.
