EURJPY Forecast: Euro Finally Breaks Above ¥130 Level forextrading
Enter your emailI look at short-term dips as reasons to add to a position, not sell it.This is an area that has been a bit difficult to overcome for a while now, and now that we are above it, there is a certain amount ofplaying this market now. Furthermore, the Japanese yen itself is getting hammered against almost everything, so it makes a certain amount of sense it would happen here as well, despite the fact that the euro itself is actually a relatively weak currency.
The pair is relatively risk sensitive, and we have seen a lot of money flowing into risk assets during the day. I think that will continue to be the case between now and the end of the year as we have the “Santa Claus rally” currently kicking off, and traders are trying to make a little bit of money on the way out the door for the year.
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