The EUR/JPY pair fell on Thursday, but turned around to form a hammer. The hammer is a bullish sign, especially considering it is at the top of a very
The EUR/JPY pair fell on Thursday, but turned around to form a hammer. The hammer is a bullish sign, especially considering it is at the top of a very strong move higher. However, we could get a bit of a pullback in I would quite frankly like to see that. The 120 level below is support as far as I can tell, because it was so resistive in the past. With this, I love buying pullbacks as we should continue to see the Japanese yen selloff in general. Pay attention to the USD/JPY pair, because of it moves higher, this pair will follow.
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.
