EUR/JPY Forecast October 13, 2016, Technical Analysis

The EUR/JPY pair bounced a bit during the day on Wednesday, using the 114 level as support. As we reach higher, I feel that the market will find quite a bit of resistance of the 160 level, so more than likely we need to have a short-term pullback in order to start buying yet again. With that being the case, I’m probably sit on the sidelines when it comes to this market, but I do recognize that have we get above the 116 level, that’s extraordinarily bullish and I would have to start buying at that point. - 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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