The EUR/JPY pair fell slightly during the course of the day on Thursday, breaking down below the 130 level and bounced slightly. We believe that this
The EUR/JPY pair fell slightly during the course of the day on Thursday, breaking down below the 130 level and bounced slightly. We believe that this market will continue to see quite a bit of support in this area, so quite frankly we are not ready to start selling yet, at least not until we break down to a fresh, new low. Any bounce here should see quite a bit of significant resistance above, extending all the way to the 133 handle. With this, we would be sellers of rallies as they show signs of exhaustion.
EUR/JPY Forecast November 27, 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.
