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
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.
