The EUR/JPY pair initially rallied during the course of the day on Wednesday, but found enough resistance of the 132 level to turn things back around and
The EUR/JPY pair initially rallied during the course of the day on Wednesday, but found enough resistance of the 132 level to turn things back around and form a bit of a shooting star. With this, we believe that the pair will continue to show signs of bearishness, but we are bit concerned about the 130 level below offering massive amounts of support. With this, we believe that the majority of trades will be selling opportunities based upon exhaustion on short-term charts. Ultimately, we need to pay attention to the EUR/USD pair, as it shows just how soft the Euro is in general.
EUR/JPY Forecast November 19, 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.
