The EUR/JPY pair rallied on Tuesday, as we continue to see volatility in this market. The Japanese yen continues to be fairly soft, and as a result I
The EUR/JPY pair rallied on Tuesday, as we continue to see volatility in this market. The Japanese yen continues to be fairly soft, and as a result I believe it’s easier to buy in this market and eventually it will break out to the upside. I believe that the 120-level underneath is massively supportive, and until we break down below there it’s impossible to sell as far as I can see. Given enough time, the market should then reach towards the 125 level, and then eventually higher than that. The pullbacks continue to offer value.
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.
