The EUR/JPY pair shot straight up this previous week and gains 350 pips. We closed the very highs of the week, just below the 110 handle which was an area
The EUR/JPY pair shot straight up this previous week and gains 350 pips. We closed the very highs of the week, just below the 110 handle which was an area that we suggested was the target previously. Because of the fact that we are right at 110, we expect a pullback at this point time, but do see a pullback as an opportunity to buy this pair at a cheaper price. We would not sell at this point time no matter what, as this pair looks completely broken out at this point. However, we could possibly break higher, and if we clear the 110 level on a daily close, we would have no choice but to start buying.
EUR/JPY forecast for the week of December 17, 2012, Technical Analysis
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.
