The EUR/JPY pair fell during much of the session on Monday, but got a significant bounce off of the 106 handle. This produced a hammer, and as a result
The EUR/JPY pair fell during much of the session on Monday, but got a significant bounce off of the 106 handle. This produced a hammer, and as a result looks like more support is coming into the market. We still think this is a very bullish pair, and will more than likely see much higher prices going forward. As a result, we would love to go long of this pair on a break of the highs from the perfectly formed hammer on Monday. Alternately, we will not short this pair until we close on a daily candle below the 105 handle.
EUR/JPY Forecast December 11, 2012, 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.
