By FXEmpire.com
The EUR/JPY pair had a slightly bullish week after initially falling. This formed a hammer that sits just above the 100 level, and this does in fact look relatively positive. However, will we all know that there is an extraordinary amount of headline risks when it comes to Europe and by extension the euro. Because of this, we are very hesitant to go long unless we see a weekly close above the top of this week’s candle. This could possibly be a nice long-term trade, but in order for this to be true, we expect that we need to see something substantial out of the European meetings later this week. We would buy though, on a break of the top of the weekly candle.
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Originally posted here
