The EUR/JPY pair went back and forth during the day on Wednesday, showing quite a bit of exhaustion. I think we will probably pullback at this point, but
The EUR/JPY pair went back and forth during the day on Wednesday, showing quite a bit of exhaustion. I think we will probably pullback at this point, but quite frankly that should end up being a buying opportunity at lower levels on signs of support. I think that the 120 level is massively supportive and essentially the “floor” in this market. With this, some type of supportive bounce should happen, as it would continue the longer-term uptrend in a market that has been so bullish over the last couple of months. I don’t like the Euro, but I recognize that the Japanese yen is selling off rapidly.
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.
