By FX Empire Analyst - Christopher Lewis:
The EUR/JPY pair tried to rally during the week, but as you can see gave back most of the gains. With that being said, this market formed a shooting star that sits right on top of the 130 level, an area that has been supportive. Because of this, we feel that the market may try to pullback, but there is so much support below that selling this market is dangerous to say the least. In fact, if we fall at this point in time, we are willing to buy supportive candles as they appear.
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