EUR/JPY Forecast November 11, 2016, Technical Analysis

The EUR/JPY pair initially tried to pull back during the day on Thursday, but as you can see we broke above the 116 level later in the day. I think that we are eventually going to try to break out to the upside, but it could cause quite a bit of volatility in the meantime. I think that there is a lot of noise all the way to the 118 handle, so that’s my target at the moment, But I also recognize that is going to be difficult. Pullbacks should continue to find plenty of support in my estimation.