The EUR/JPY pair initially fell during the day on Wednesday, but turn right back around to form a hammer. By doing so, it looks as if the buyers are
The EUR/JPY pair initially fell during the day on Wednesday, but turn right back around to form a hammer. By doing so, it looks as if the buyers are starting to return to this market, and will more than likely try to push the pair towards the 125 level above. Pullbacks should continue to see buying pressure, as it appears we are more than willing to see quite a bit of volatility in this market. The 125 level above is massively resistive though, so probably take something special to break through it.
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.
