The EUR/JPY pair rose during the course of the week, but they turned back around to form a shooting star. The shooting star of course is a negative sign,
The EUR/JPY pair rose during the course of the week, but they turned back around to form a shooting star. The shooting star of course is a negative sign, and as a result I think that we will probably reach down towards the 115 level. A break down below the 150 level should send this market looking down towards the 111 level given enough time. I have no interest whatsoever in buying this market until yet well above the 121 handle, and that seems very unlikely at this point in time. It is also going to be a market that is probably better traded off of short-term charts.
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.
