The EUR/JPY pair initially fell during the course of the week but turned back around in order to form a nice-looking hammer. This hammer essentially makes
The EUR/JPY pair initially fell during the course of the week but turned back around in order to form a nice-looking hammer. This hammer essentially makes a bit of a “double bottom” on longer-term charts, so having said that we feel that the market will probably try to bounce from here. As we got back above the 130 handle, it looks as if the market is ready to continue going much higher, and as a result we believe that the Euro will continue to gain against the Yen.
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.
