Advertisement
Advertisement

EUR/JPY Forecast December 6, 2016, Technical Analysis

By:
Christopher Lewis
Published: Dec 6, 2016, 04:50 UTC

The EUR/JPY pair gapped lower at the open on Monday but then turned completely around to form a massively bullish candle. Because of this, looks as if

EUR/JPY daily chart, December 06, 2016

The EUR/JPY pair gapped lower at the open on Monday but then turned completely around to form a massively bullish candle. Because of this, looks as if this market is going to continue the uptrend that we have seen for some time, and buying is the only thing you can do. It’s obvious that the 120 level should be supportive going forward, and because of this I think that pullbacks are going to continue to offer value that you can take advantage of even though I don’t like the Euro itself. This pair is all about the Japanese yen.

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.

Did you find this article useful?

Advertisement