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
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.
