The EUR/JPY pair rose slightly during the session on Monday, but still remains underneath the vital 138 level. With that, it’s very likely that this
The EUR/JPY pair rose slightly during the session on Monday, but still remains underneath the vital 138 level. With that, it’s very likely that this market needs to break above there before we can start buying, but if we get above there, it would be a strong sign after all. However, the Euro of course is very bearish in general at the moment, so we are bit hesitant. If we choose to short the Yen, we would probably do it in another market against stronger currencies such as the US dollar, or perhaps the Swiss franc.
EUR/JPY Forecast October 7, 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.
