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.
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.
