The EUR/JPY pair fell hard during the course of the day on Tuesday, but found enough support at the 138 level to turn things back around and form a
The EUR/JPY pair fell hard during the course of the day on Tuesday, but found enough support at the 138 level to turn things back around and form a nice-looking hammer. Because of this, we believe that the market is going to bounce higher from here, and we are bullish of the market at the moment. We do not believe that the market will be able to break down below the 138 level, although we are very bearish of the Euro in general. We believe that the Japanese yen is going to continue to sell off hard enough to propel this market higher.
EUR/JPY Forecast October 1, 2014, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
