EUR/JPY Forecast October 11, 2016, Technical Analysis

The EUR/JPY pair initially fell during the course of the session on Monday but turned around to form a significant hammer. If we can break above the top of the hammer, I think we will again test the 116 level, which has been massively resistive. A break above the recent high could be reason enough to go long for a longer-term trade, and as a result that’s essentially what I’m waiting on. I have no understand selling this pair at the moment, but do recognize that a break down below the 115 level could encourage me to do so. - 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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