The EUR/JPY pair did in fact fall initially during the course of the week, but tested the 135 level for support. The resulting support ended up sending
The EUR/JPY pair did in fact fall initially during the course of the week, but tested the 135 level for support. The resulting support ended up sending the market higher, forming a hammer. The hammer of course is very well-placed, based upon the longer-term movement of this marketplace. With that, on a break above the top of the candle we believe that the market will first attempt the 138 handle, and then the 140 handle on its way to the 145 level. We have no plans whatsoever on selling this market.
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.
