EUR/JPY Forecast November 1, 2016, Technical Analysis

The EUR/JPY pair rallied slightly on Monday, but at this point in time it looks as if the market is going to try to reach towards the 116 handle. That area should be rather resistive, and with that being the case I think that the sellers will reenter this market given enough time. We should continue to consolidate as far as I see, and it’s not until we break above the 116.50 level that I would be comfortable buying. Keep in mind that this pair does tend to be very risk sensitive, so as stock markets around the world start taking off to the upside, that could provide enough of a boost to go higher. - 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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