EUR/JPY Forecast October 4, 2016, Technical Analysis

The EUR/JPY pair initially fell during the day on Monday, but turned right back around to form a nice-looking hammer yet again. With this being the case, if we can break above the 114 handle, we could continue to grind our way towards the 116 level as well. With this, the market looks very bullish and with that being the case I have no interest whatsoever in selling and recognize that even if we pullback from here, there could be nice buying opportunities yet again. Either way, it looks as if this market will continue to try to fight its way to the upside.

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