EUR/JPY pair initially tried to fall during the course of the week, but as you can see struggled and turned back around to let the buyers have their way
EUR/JPY pair initially tried to fall during the course of the week, but as you can see struggled and turned back around to let the buyers have their way with this market. The 140 level above is resistance, and probably the target. We believe that this market is probably more suited towards short-term traders and anything else though, so having said that we are very interested in buying this pair, but not from a longer-term perspective. If we pullback from here, we would be convinced to buy at lower levels on signs of support.
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.
