The EUR/JPY pair fell hard during the session on Friday, slamming into the 136 handle. This area is significant support, and it extends all the way down
The EUR/JPY pair fell hard during the session on Friday, slamming into the 136 handle. This area is significant support, and it extends all the way down to the 135 handle. Because of this, we have no interest in shorting at the moment, but would buy a supportive candle. Unless we get that supportive candle though, we are going to be on the sidelines, not feeling comfortable shorting this market until we get well below the 135 level. Ultimately though, we believe that the weakness that is found in the Japanese yen will continue to push this market higher given enough time.
EUR/JPY Forecast October 13, 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.
