EUR/JPY Forecast October 10, 2016, Technical Analysis

The EUR/JPY pair fell slightly during the day on Friday, as the 116 level continues to offer quite a bit of resistance. However, I believe that it’s only a matter of time before the buyers come back into this market, as we have quite a strong uptrend over the last couple of weeks. If we can break above the highest just above the 116 level, that would be a good signal that the buyers are starting to take over yet again. However, we are a bit overextended at this point in time, and need to build up momentum.

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