The EUR/JPY pair fell during the Friday session as we pulled back from the 115 level. This level was the target originally, and we still believe that this
The EUR/JPY pair fell during the Friday session as we pulled back from the 115 level. This level was the target originally, and we still believe that this pair will eventually find that level. However the gap from the open on Wednesday still has not been filled, and that may be what were about to see. This is at the 112 level, so we would be more than willing to buy this pair at 112 if we get some type of supportive action. Otherwise, this pair could continue higher, but it is getting a bit overextended at this point time and as a result we would be hesitant to buy all the way up here.
EUR/JPY Forecast December 31, 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.
