The EUR/JPY pair had a negative week, crashing through the 138 handle. We found some support at the 137 level though, and as a result it’s very likely
The EUR/JPY pair had a negative week, crashing through the 138 handle. We found some support at the 137 level though, and as a result it’s very likely that the market will bounce from here. However, we do not have a candle that suggests it’s time to buy yet, so we are staying on the sidelines. We believe that there is a significant amount of support all the way down to the 135 handle, so at this point time we have no interest in selling going forward in this pair.
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.
