By FXEmpire.com
EUR/JPY fell most of the session on Tuesday as stock markets gained but only slightly. At the end of the session however, we did form a hammer just above the 99 level, and this does look rather supportive. We aren’t expecting fireworks here, just a simple return to the recent consolidation area which extends all the way up to 101.50 or so in this market. It is hard to believe that there will be some kind of sudden breakout in this pair until after the EU summit on Thursday and Friday. Because of this, we are willing to buy very short-term in order to pick up a few pips. Otherwise, we just simply don’t see much in the trade.
Click here to read EUR/JPY Technical Analysis.
Originally posted here
