EUR/JPY Forecast November 10, 2016, Technical Analysis

The EUR/JPY pair fell on Wednesday, but found enough support to turn things around and form a nice-looking hammer. The hammer is pressing up against the 116 level above, and a break above there could send this market looking for the 118 handle. I believe that the market will continue to be very volatile, but eventually we should continue to go higher. I think that pullbacks simply will offer value as we continue to bang up against the resistance. The matter what happens, I think that it’s going to be difficult to deal with the Volatility that’s coming.