The EUR/JPY pair did very little during the session on Tuesday as the markets continue to wait on several announcements coming out later this week.
The EUR/JPY pair did very little during the session on Tuesday as the markets continue to wait on several announcements coming out later this week. Several central banks will come out and speak, and as such this highly risk sensitive pair will be affected. We still think looking at this chart from a technical point of view is the only way to go, and as a result we think it will eventually be bullish. Any pullback it does not break below the 105 level invite buying. We will look for supportive candle somewhere between here and 105 in order to start buying this pair, or a breakout above the 108 level.
EUR/JPY Forecast December 5, 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.
