The EUR/JPY pair initially tried to rally during the day on Thursday but failed to continue to go higher as we turned around and formed a bit of a
The EUR/JPY pair initially tried to rally during the day on Thursday but failed to continue to go higher as we turned around and formed a bit of a shooting star. The 116 level below is massively supportive though, so at this point I don’t think that the market can be shorted even though it does look like we are a bit overbought. Ultimately, I feel that the market continues to go higher over the longer term, but at this point I don’t think we are ready to do it yet due to the volatility.
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.
