The EUR/JPY pair fell during the course of the week, breaking down to the 112.50 region. This is a market that looks like it is ready to continue going
The EUR/JPY pair fell during the course of the week, breaking down to the 112.50 region. This is a market that looks like it is ready to continue going lower, perhaps reaching down to the 111 level given enough time. However, that isn’t much in the way of room on the longer-term charts, so I prefer to short this market off of shorter-term charts, perhaps the daily chart, or even possibly lower time frames than that. Ultimately, I do think we test the 111 level yet again, and an attempt to finally break down.
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.
