The EUR/JPY pair fell a bit during the course of the week, testing the 130 level for support. We did find it there, and as a result we could go higher.
The EUR/JPY pair fell a bit during the course of the week, testing the 130 level for support. We did find it there, and as a result we could go higher. However, we are bit hesitant to start buying this market as the candle is in exactly inspiring quite a bit of bullishness. A move below the 130 level could send this market looking for the 127 handle. Ultimately though, we think that this is more or less going to be a short-term trader’s type of environment going forward.
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.
