The EUR/JPY pair initially broke below the 130 handle, but turned back around to form a bit of a hammer. With that, it looks as if the market is going to
The EUR/JPY pair initially broke below the 130 handle, but turned back around to form a bit of a hammer. With that, it looks as if the market is going to bounce from here and trying to build up enough momentum to finally break down. With that being the case, we do not like longer-term trades at this moment and will continue to trade the EUR/JPY pair from the shorter time frame charts, selling rallies as they occur. Ultimately, we expect this market to reach towards the 127 handle again.
EUR/JPY forecast for the week of November 30, 2015, Technical Analysis
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.
