EUR/JPY Forecast November 22, 2016, Technical Analysis

The Euro rallied against the Japanese yen during the day on Monday, but continues to struggle at the 118 handle. At this point, it’s always impossible to imagine selling this market so I look at any pullback as potential value. Because of this, I am waiting to see whether or not we get opportunities closer to the 116 level below which I now see as the “floor” in the uptrend that we have formed over the last couple of weeks. Although I don’t like the Euro in general, the Japanese yen is without a doubt the week is currency in the market right now that I follow.