The EUR/JPY pair fell during the course of the day on Tuesday, but is running into significant support at the 137 handle. Because of this, we are not
The EUR/JPY pair fell during the course of the day on Tuesday, but is running into significant support at the 137 handle. Because of this, we are not sellers and we are simply waiting to see whether or not we get a supportive candle that we can serve buying. If we do, we expect this market to reach towards the 140 handle given enough time, as it has been a magnet for price over the longer term. With this, we are bullish, but we also recognize that patience will be needed in order to see the right supportive candle to start going long again.
EUR/JPY Forecast August 19, 2015, Technical Analysis
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.
