Based on the current scenario, we are actually on the first week of trading, while the moves are basically hinting the low liquidity on the currency pair while we have seen the overall market has slow down a bit.
As we have seen that there is a downward for USD/JPY at the end of the year 2015 that has also maintained a same movement in 2016. While there is certain tension in Asian Markets as there is expecting a low volatility in the market. The EUR/USD has been looking for short position while the FOREX traders are going long on this currency pair.
Table 1.1: EUR/JPY on a verge of revival level
Majority of the people are not expecting a deterioration in this currency as compared to other currencies as the 2/3rd of traders are expecting a stronger JPY in 2016.
Today Trading Parameters:
Buy @ 129.28
Dhruv Williams – Analyst