EUR/JPY Forecast May 31, 2016, Technical Analysis

The EUR/JPY pair broke higher during the course of the day on Monday, as it looks like we are trying to test the massive resistance near the 124.50 level. With this being the case, we could have a short-term move higher but with this being the case and with it being so close, I would highly emphasize the phrase “short-term.” Pullbacks at this point in time could be bought though, as they show signs of support or bouncing. A break above the 124.50 level has the market testing the 125 handle, and if we can get above there, the market could go much higher. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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