The EUR/JPY pair fell during the session on Tuesday, but bounced drolly in order to form a hammer for the trading session. This is based around the 103
The EUR/JPY pair fell during the session on Tuesday, but bounced drolly in order to form a hammer for the trading session. This is based around the 103 handle, and as such we think is a valid buy signal in this market and clears the way for the 105 level.
With this being said, if we can break the top of the Tuesday highs, we will be long of this market for at least the next day or two, but may flat now before the nonfarm payroll numbers come out on Friday. This pair is a sensitive one when it comes down to risk appetite, and that particular announcement certainly will have a great affect on it.
EUR/JPY Forecast October 31, 2012, 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.
