The EUR/JPY pair fell during the course of the sessions making up the previous week, crashing into the 135 handle. This area has been rather supportive
The EUR/JPY pair fell during the course of the sessions making up the previous week, crashing into the 135 handle. This area has been rather supportive though, and as a result we would not be surprise at all to see this market bounce from this area. In the meantime though, we are on the sidelines as far as long-term trades are concerned. Short-term buyers will more than likely enter this market though, and head towards the 139 handle again as the overall consolidation should continue going into the fall season.
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.