EUR/JPY forecast for the week of August 22, 2016, Technical Analysis
The EUR/JPY pair did very little during the course of the week, simply going sideways overall. This makes sense considering we are at the end of summer, and that typically means holiday season. I believe that the 115 level above will offer resistance, just as the 111 level below will
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The EUR/JPY pair did very little during the course of the week, simply going sideways overall. This makes sense considering we are at the end of summer, and that typically means holiday season. I believe that the 115 level above will offer resistance, just as the 111 level below will be support. With this being the case, I feel that you will be better served trading this market offer short-term charts in a range bound type of move. If we do break down, it’s likely that a move below the 110 level will be a trader to push this market down to the 105 level.
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