The EUR/JPY pair broke higher during the course of the day on Monday, as the market broke back above the 128 handle. However, we have suggested previously
The EUR/JPY pair broke higher during the course of the day on Monday, as the market broke back above the 128 handle. However, we have suggested previously that the 130 level should be resistance, and we maintain that notion. With that we are simply waiting for a resistive candle in order to start selling yet again, as the downtrend is most certainly in effect. We believe that the market will then head to the 125 handle, and perhaps even lower given enough time. We have no scenario in which we are willing to buy this market at this moment.
EUR/JPY Forecast March 17, 2015, Technical Analysis
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.
