The EUR/JPY pair shot straight up like it was fired out of a cannon on Tuesday. The Monday hammer signal that perhaps the 106 level was going to offer
The EUR/JPY pair shot straight up like it was fired out of a cannon on Tuesday. The Monday hammer signal that perhaps the 106 level was going to offer plenty of support, and was proven correct during the trading day on Tuesday. With this being said, we are also closing at the very top of the session, and as a result it does look like this market wants to go much higher. Because of this, we are buying pullbacks as they come, as well as breakout. As far as selling is concerned, we have no interest in doing so until we break down below the 105 handle.
EUR/JPY Forecast December 12, 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.
