EUR/JPY Forecast September 1, 2016, Technical Analysis

The EUR/JPY pair broke higher during the course of the day, clearing the 115 level and showing real strength at this point in time. I believe that now that we have cleared this area, we will probably reach towards the 117 handle. On the other hand, we break down below the bottom of the candle during the session on Wednesday, that could be sufficiently negative enough to turn things back around. In the short-term though, I do believe that the buyers are going to be in control, at least for the next couple of handles.

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