The EUR/JPY pair fell during the course of the day on Wednesday, as we continue to hang about just above the 131.50 level. This is an area that has been
The EUR/JPY pair fell during the course of the day on Wednesday, as we continue to hang about just above the 131.50 level. This is an area that has been supportive lately, but this market certainly looks as if it is starting to get fairly soft. The Euro of course has been sold off rather drastically, and as a result we think this market could very well break down. We look at any rally at this point in time as a potential selling opportunity based upon short-term exhaustion. We do see a significant amount of resistance near the 133 level, so we think this range will remain fairly tight.
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.
