The EUR/JPY pair did very little over the session on Monday, as the risk assets during the session went back and forth. The headlines from the “fiscal
The EUR/JPY pair did very little over the session on Monday, as the risk assets during the session went back and forth. The headlines from the “fiscal cliff” will continue to push this market around, and as a result it will literally depend on the latest headline.
The 105 level looks very supportive to us, and as a result we would be very interested in going long somewhere near that level, but until we get that pullback, we may simply have to wait. Of course, there is always the possibility of breaking out to the upside, with a break of the 107.50 level being a buy signal as well. The 110 level is where we think this pair is eventually going.
EUR/JPY Forecast December 4, 2012, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
