EUR/JPY Forecast November 21, 2016, Technical Analysis

The EUR/JPY pair went back and forth on Friday as the volatility continues. The 170 level seems to be attractive to the market, and as a result it doesn’t surprise me that we go sideways from here. However, if we pullback I think there’s plenty of support at the 116 level underneath that could cause a bit of a bounce. Ultimately, that is a move that should then reach towards the 118 handle. In general, the Japanese yen looks very soft, so given enough time I think that we continue to see buyers enter. - 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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