The EUR/JPY pair fell during most of the week over the last five sessions, but got quite a bounce off of the 105 handle. We now have a beautiful hammer
The EUR/JPY pair fell during most of the week over the last five sessions, but got quite a bounce off of the 105 handle. We now have a beautiful hammer that sits just above the 105 handle and it does appear that on a break of this hammer we are heading straight to the 110 level. With the Bank of Japan working so hard against the Yen overall, this doesn’t take a whole lot of imagination to understand that this market will continue higher. However, there are always headline risks out there, so anything is possible. Nonetheless, if we break the highs from this previous week, we are buying.
EUR/JPY Forecast for the week of December 3, 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.
