Yen Versus Euro and Dollar August 29th

FX Strategy Video > Currency Pairs Analysis

EUR/JPY fell for much of the session, but ended the trading day on Tuesday with a hammer being formed. The candle appeared at the 98 level, and it suggests that there is a serious attempt to push prices higher. The real question: "Can we get above the 101 level?"

The USD/JPY pair fell, but is currently sitting in a massive support level. The area goes from the 78 handle all the way to the 78.75 level. We are currently only buying this pair, and unless you plan on fighting the Bank of Japan - you shouldn't be selling either.

Published on 28th of August 2012
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