The EUR/JPY pair fell significantly during the day on Wednesday as we continue to grind down to the 112 level. Short-term rallies should continue to be a
The EUR/JPY pair fell significantly during the day on Wednesday as we continue to grind down to the 112 level. Short-term rallies should continue to be a nice selling opportunity, as I recognize the 160 level above continues to be the “ceiling” in this market. Ultimately, I think we sell and sell again, and I have no interest in buying this particular market, even though I anticipate that the 112 level could cause a little bit of a bounce. A break down below there of course could accelerate the downward pressure going forward.
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.
