The EUR/JPY pair broke down during the session on Monday, forming a very bearish candle. The market looks as if it is trying to reach towards the
The EUR/JPY pair broke down during the session on Monday, forming a very bearish candle. The market looks as if it is trying to reach towards the 120-level underneath, but I believe that there is enough support that eventually we will turn around and find buyers. On a supportive daily close, I am more than willing to go long in this market. I believe that the 120 level has a significant amount of support all the way down to the 118.50 handle. Given enough time, I anticipate that this market is going to try to reach towards the 125 level.
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.
