The EUR/JPY pair went back and forth during the week, showing the 160 level to be resistive. If we can break above that level, that would be a very
The EUR/JPY pair went back and forth during the week, showing the 160 level to be resistive. If we can break above that level, that would be a very bullish sign. However, we have not done so yet so therefore I’m not overly excited about going long in this market yet. I think that the support is just below at the 112 level, so more than likely you’re going to have to trade this market from the daily charts or even lower time frames than that. I will however, continue to monitor this pair for longer-term setups.
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.
