The EUR/JPY pair tried to rally during the session on Monday, but as you can see failed at the 131 handle. The resulting candle is a perfect shooting
The EUR/JPY pair tried to rally during the session on Monday, but as you can see failed at the 131 handle. The resulting candle is a perfect shooting star, and it is sitting on the 130 handle. That being the case, we think that a pullback could come but in the end we still feel that this market is a “buy only” market. We think that the pullback will offer a buying opportunity lower, and that the 128 handle should be massively supportive. If we managed to break above the top of the shooting star, that would also be a very bullish sign as well.
EUR/JPY Forecast August 20, 2013, 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.
