The EUR/JPY pair fell during the course of the day on Thursday, but as you can see found enough support at the 137 region to turn things back around and
The EUR/JPY pair fell during the course of the day on Thursday, but as you can see found enough support at the 137 region to turn things back around and form a little bit of a hammer. The hammer of course suggests that the market is going to go back to the 138 level, and possibly even higher than that. He can get a daily close back above the 138 level, we would be buyers aiming for the 140 level. Because of that, we are cautiously optimistic, and would be buyers on the right signs.
EUR/JPY Forecast October 3, 2014, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
