The EUR/JPY pair fell hard during the course of the session as global indices sold off. With that, the market favored safety currencies such as the Yen,
The EUR/JPY pair fell hard during the course of the session as global indices sold off. With that, the market favored safety currencies such as the Yen, and of course sold off just about everything else. With this, the market looks as if we gave back about half of the losses, this means that the market may very well still be resilient underneath. We are buyers on short-term pullbacks and show signs of support, but are very cautious to say the least. We need to be very careful with our position size, so we will probably play half size at this point.
EUR/JPY Forecast August 25, 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.
