The EUR/JPY pair initially tried to rally during the course of the week, but found the 138 level be far too resistive. Because of this, it appears that
The EUR/JPY pair initially tried to rally during the course of the week, but found the 138 level be far too resistive. Because of this, it appears that the markets were always going to turn around, and as a result we like the idea of waiting to see if we get support in this general vicinity though. After all, the 136 region is the beginning of significant support down to the 135 level, so we believe that sooner or later we will get a supportive candle. If we do, we are more than willing to start buying again.
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.
