The EUR/JPY pair initially fell during the session on Thursday, but got a bit of a bounce in order to finish the day with a positive tone. The market
The EUR/JPY pair initially fell during the session on Thursday, but got a bit of a bounce in order to finish the day with a positive tone. The market formed a shooting star during the Wednesday session, so the fact that we can break down for the day suggests that there is quite a bit of support in this area. We see the 110 handle as being crucial for this market, and as long as we are above that we only buying this pair. If we break the top of the Wednesday shooting star, that would be an extremely bullish case. Nonetheless, we still believe that this pair will grind higher overtime.
EUR/JPY Forecast December 21, 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.
