The EUR/JPY pair fell during the course of the week, testing the 122 region. There is quite a bit of support below though, so we need to make a fresh, new
The EUR/JPY pair fell during the course of the week, testing the 122 region. There is quite a bit of support below though, so we need to make a fresh, new low in order to start selling from a longer-term perspective. A pullback from here could very well have quite a bit of resistance appear, so this we rally and get an exhaustive candle, we would be more than willing to sell their as well. It will more than likely be a shorter-term type of trading environment though, so weekly chart may not be that particular useful.
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.
