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EUR/JPY Forecast December 27, 2012, Technical Analysis

By:
Christopher Lewis
Updated: Aug 21, 2015, 02:00 UTC

The EUR/JPY pair gapped higher on Wednesday as we continue to see Yen weakness across the board. We are now firmly above the 112 level and as such we feel

EUR/JPY Forecast December 27, 2012, Technical Analysis

The EUR/JPY pair gapped higher on Wednesday as we continue to see Yen weakness across the board. We are now firmly above the 112 level and as such we feel that we are making it a move towards the 115 level.

We do feel that the 110 level is the “floor” in this marketplace, and as long as we are above that we simply will not sell this pair under any circumstances. We could see a pullback though at the moment and a retest of the 112 level for support because of the gap, but we figure that’s about as far as the bearishness will go in this market.

 

EUR/JPY Forecast December 27, 2012, Technical Analysis
EUR/JPY Forecast December 27, 2012, Technical Analysis

About the Author

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.

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