EUR/JPY Forecast October 24, 2016, Technical Analysis

The EUR/JPY pair fell during the course of the day on Friday, reaching down towards the 112.50 level. We did bounce a little bit before the close, but at this point in time it looks as if the markets will reach towards the 112 level. With this, it’s only a matter of time before we bounce, and I’m waiting to see whether or not we get the right supportive candle. If we break down below the 112 level, the market should then go down to the 110 handle. I believe that we will continue to go back and forth overall.

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