The EUR/JPY pair went higher during the session on Friday, testing the 137 level. The market as you can see could go higher though, and the 138 level
The EUR/JPY pair went higher during the session on Friday, testing the 137 level. The market as you can see could go higher though, and the 138 level looks to be resistive and a magnet for price at the same time. That being the case, we are bullish but we recognize that pullbacks may be needed in order to build up enough buying pressure to go long. We have no interest in selling this market, so pullbacks will be looked at as” value.” If we break above the 138 level, we believe that the market then goes to the 140 handle.
EUR/JPY Forecast October 27, 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.
