The EUR/JPY pair initially fell during the course of the day on Wednesday, but found enough support below to turn things back around and head towards the
The EUR/JPY pair initially fell during the course of the day on Wednesday, but found enough support below to turn things back around and head towards the 138 level. The 138 level of course offered resistance as we expected it would do, but ultimately we need to get above there in order to start buying. If we do get that, we think that this market probably goes to the 140 handle, and possibly even higher than that given enough time. We’re not big fans of the Euro right now, but the truth of the matter is that the Japanese yen continues to struggle overall.
EUR/JPY Forecast October 9, 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.