By FXEmpire.com
The EUR/JPY pair fell as most Yen-related pairs did on Monday. The pair is a risk-related pair that many traders will follow in times of economic turmoil, and as the risk is centered on Europe, this is even more so in this situation. As long as there are problems in Europe, every time the crisis flares up, we are selling this market. The pair seems to be in a range between 99.50 and 100.50, and because of this, we are looking to get involved once we break out of this area. The pair can break down as long as the USD/JPY doesn’t meltdown. The pair is a “sell only” market, and as long as we stay under the 100.50 level, we are more comfortable selling. On a break below the 99.50 level, we are sellers as well. However, on a daily close above the 100.50 level, we are buyers as it would show another burst of momentum.
Click here a current EUR/JPY Chart.
Originally posted here
