The EUR/JPY pair fell hard during the course of the session on Tuesday, but found the 135 level to be supportive. This is the perfect support level, and
The EUR/JPY pair fell hard during the course of the session on Tuesday, but found the 135 level to be supportive. This is the perfect support level, and the fact that we bounced roughly 50 pips from there suggests that we could find that this market turned back around and bounce is towards the 138 handle. If we break the top of the candle from the session on Tuesday, we are willing to start buying this pair again. On the other hand, if we break down below the 135 level, we probably head to the 133 level.
EUR/JPY Forecast October 15, 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.
