The EUR/JPY pair went back and forth to form a neutral candle during the Tuesday session. It looks as if there is plenty of support just below though, so
The EUR/JPY pair went back and forth to form a neutral candle during the Tuesday session. It looks as if there is plenty of support just below though, so I think that given enough time we get more buyers jumping into the market. The 120-level underneath will continue to be a bit of a “floor”, as the market continues to sell off the Japanese yen in general. Reaching towards the 125 level above will be what happens longer-term, but in the meantime, expect quite a bit of volatility in this market as the Euro itself has several issues.
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.
