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.
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.
