The EUR/JPY pair initially rallied on Friday, but turned around as the 120 level offered quite a bit of resistance. By forming a shooting star, I think we
The EUR/JPY pair initially rallied on Friday, but turned around as the 120 level offered quite a bit of resistance. By forming a shooting star, I think we are getting a pullback soon. This is a great sign for this market though, because quite frankly there is quite a bit of buying pressure underneath just waiting to happen. This would be continuation of the longer-term move that has just started, as the trend looks as if it is going to change completely. A break above the top of the shooting star is reason enough to go along.
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.
