The EUR/JPY fell on Thursday, but bounced later in the day to form a nice hammer just under the 115 level. Because of this formation, it looks more and more likely that a bounce might be in the short-term future for this pair. It certainly would make sense as the central banks are below as well. If we can get back above the 115, this pair could present a short-term long position. If we break below the bottom of the hammer – well, that would be very bearish indeed.
Originally posted here
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