The EUR/JPY pair initially fell during the course of the session on Thursday, but turned around at the 131 level to show a bit of a hammer. Because of
The EUR/JPY pair initially fell during the course of the session on Thursday, but turned around at the 131 level to show a bit of a hammer. Because of this it looks as if the market is ready to go higher, perhaps reaching towards the 133 level. Short-term traders may find an opportunity to start going long, but we believe it is probably easier to simply sell this market on signs of resistance above. Ultimately, we think that volatility will be the norm for this pair, as there is so much uncertainty in the world and it tends to be very sensitive to risk appetite.
EUR/JPY Forecast November 20, 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.
