The EUR/JPY pair fell during the course of the session on Friday, testing the 135 level for support. Ultimately, we found enough support to turn things
The EUR/JPY pair fell during the course of the session on Friday, testing the 135 level for support. Ultimately, we found enough support to turn things back around and form a hammer. The hammer is the second in a row, and as a result we feel that the buyers are going to push this market much higher, and as a result we believe that the overall consolidation should continue. A break above the top of the hammer from both Thursday and Friday, we would be buyers. We think that support runs all the way down to the 134 handle.
EUR/JPY Forecast August 31, 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.
