The EUR/JPY pair fell during the course of the week as we continue to bounce around below the 116 level, and above the 112 level. Because of this, I think
The EUR/JPY pair fell during the course of the week as we continue to bounce around below the 116 level, and above the 112 level. Because of this, I think it’s easier to trade this market from the shorter-term perspective, with a negative bias. If we did break down below the 112 level, at that point in time I think we would drop to the 110 level. Ultimately, you’re probably going to look for trades off of daily charts or even lower time frames as this is a market that does not have enough room to place longer-term trades at least at the moment.
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.
