The EUR/JPY pair broke down initially during the course of the week but bounced enough towards the end in order to form a bit of a hammer. With this being
The EUR/JPY pair broke down initially during the course of the week but bounced enough towards the end in order to form a bit of a hammer. With this being the case, the market could bounce towards the 135 handle again and as a result a break above the top of the hammer could be the signal in order to start buying again. We have no interest in selling, now that we have formed a hammer for the week. In fact, we believe that this market will simply be volatile, but ultimately steady in its decline.
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.
