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.
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.
