The EUR/JPY pair initially rally during the day on Wednesday, but found enough resistance above the turn things around and form a less than stellar
The EUR/JPY pair initially rally during the day on Wednesday, but found enough resistance above the turn things around and form a less than stellar candle. Because of this, I think that the market will reach towards the 125 handle over the longer term, but we may have a lot of volatility between now and then. The 125-level underneath is massively supportive, and I think that support extends all the way down to the 120 handle. Were in a longer-term uptrend, and that has not changed although we have been consolidating. I only by this pair.
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.
