The EUR/JPY pair had a strong showing this week as we managed to close well above the 113 level. The 115 level was the initial target, and we fell just
The EUR/JPY pair had a strong showing this week as we managed to close well above the 113 level. The 115 level was the initial target, and we fell just short, but it should be stated that we managed to close decisively higher. The market is a bit overbought at this point time, and as a result if you’re not in it we would suggest waiting for some type of pullback as this would simply be “chasing the trade” if you were to start buying here. With the bullishness in this market however, we find no reason to sell even if we are at this overextended.
EUR/JPY forecast for the week of December 31, 2012, Technical Analysis
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.
