The EUR/JPY pair initially fell during the course of the day on Friday, but then turned back around at the 138 level to form a hammer. The hammer of
The EUR/JPY pair initially fell during the course of the day on Friday, but then turned back around at the 138 level to form a hammer. The hammer of course is bullish, so we can break above the top of it, we believe this market will then reach towards the 140 handle. The 140 handle is very resistive though, so we do not anticipate this market breaking out of it right away. In fact, we believe that is just simply a short-term buying opportunity in what has been a rather volatile market.
EUR/JPY Forecast August 24, 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.
