The EUR/JPY pair shot straight up during the session on Wednesday as the "risk on" rally came into play. The Federal Reserve looks to continue its
The EUR/JPY pair shot straight up during the session on Wednesday as the “risk on” rally came into play. The Federal Reserve looks to continue its quantitative easing policy and this of course got the animal spirits of traders riled. We broke out above the 108 level, and now it looks like there’s very little out there to keep us from rising to the 110 handle. In fact, we went long today, and do expect to see 110 before it’s all said and done. As for selling is concerned, we would be very leery of doing so right now and do not see significant resistance to suggest doing that until we get to the 110 handle later.
EUR/JPY Forecast December 13, 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.
