The EUR/JPY pair rallied on Friday, showing signs of resiliency yet again. This is a market that continues to show quite a bit of choppiness, but I think
The EUR/JPY pair rallied on Friday, showing signs of resiliency yet again. This is a market that continues to show quite a bit of choppiness, but I think this consolidation is only the market waiting to build up enough momentum to continue to the upside. Pullbacks offer buying opportunities, as I believe the Japanese yen will continue to sell off. I see a hard floor in the market at the 120 handle. I believe that the market is going to try to reach towards the 125 handle relatively soon, but obviously, momentum building is the order right now.
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.
