The EUR/JPY pair initially tried to rally during the day on Wednesday, but turned right back around to form a shooting star. The shooting star is near the
The EUR/JPY pair initially tried to rally during the day on Wednesday, but turned right back around to form a shooting star. The shooting star is near the bottom of the overall trading range that we have been in, so having said that I feel that a break down below the 112 level would send this market much lower, perhaps down to the 110 level. I believe that rallies should be sold on signs of exhaustion as we are most certainly in a longer-term negative move, and therefore I have no interest in buying this market.
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.
