The EUR/JPY pair fell during the course of the day on Friday, dipping below to a fresh, new low. However, we found enough support at the 130 level to turn
The EUR/JPY pair fell during the course of the day on Friday, dipping below to a fresh, new low. However, we found enough support at the 130 level to turn things around and form a hammer. While that is a bullish sign, the reality is that there is a significant amount of resistance above that should continue to make this market look towards the downside. A break of the bottom of the hammer is also a selling opportunity, and as a result we look at this market as one that could offer opportunities to short from higher levels. We’re not interested in buying.
EUR/JPY Forecast November 30, 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.
